regulation

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Regulation

The set of rules and legislation governing certain actions. For example, the U.S. Tax Code and the rules the IRS publishes regulate federal taxation in the United States. In securities, regulations often require companies to disclose their actions to see to it that as much information as possible is publicly available. Other regulations govern business practices; for example they may set minimum or maximum wages and salaries, prohibit discrimination on certain grounds, and/or ban certain policies or practices deemed unfair for consumers or competitors. While nearly everyone agrees that some regulations are necessary, there is significant disagreement as to how many and what kind. Proponents of more regulation state that it ensures a fair market place and sustainable growth, while critics argue that many regulations do more harm than good.

regulation

the control of economic activities by the government or some other regulatory body, for example an industry trade association. Regulation can include PRICE CONTROLS to regulate inflation; FOREIGN EXCHANGE CONTROLS to regulate currency flows; and COMPETITION POLICY to regulate the operation of particular markets. More specific regulation may be imposed upon individual industries or activities, for example price control of denationalized industries (e.g. Oftel, which regulates telecommunication prices and Of gas which regulates gas prices in the UK); and the regulation of financial services by the BANK OF ENGLAND and the FINANCIAL SERVICES AUTHORITY. See DEREGULATION, RATE OF RETURN REGULATION.

regulation

the control of economic activities by the government or some other regulatory body, for example, an industry trade association. Regulation can include PRICE CONTROLS to regulate inflation, FOREIGN EXCHANGE CONTROLS to regulate currency flows, and COMPETITION POLICY to regulate the operation of particular markets. More specific regulation may be imposed upon individual industries or activities, for example, price control of privately owned PUBLIC UTILITIES (for example, Oftel, which regulates telecommunication prices in the UK), and the regulation of financial services by the BANK OF ENGLAND and the FINANCIAL SERVICES AUTHORITY.

There is a danger that regulators appointed to serve the interests of customers will instead serve the interests of the regulated firms (a so-called situation of‘regulatory capture’). This is particularly likely to occur when appointed regulators work with specific managers in regulated firms for a long time and are influenced by the public relations and lobbying activities of firms.

See DEREGULATION.

References in classic literature ?
She has obtained a regular and unanimous advice from men of her own deliberate choice.
The Columbia, however, is believed to be the first ship that made a regular discovery and anchored within its waters, and it has since generally borne the name of that vessel.
One wheel slowly moved, another was set in motion, and a third, and wheels began to revolve faster and faster, levers and cogwheels to work, chimes to play, figures to pop out, and the hands to advance with regular motion as a result of all that activity.
The boy fell against the Horner, so that all went tumbling down the slide in a regular mix-up, unable to see where they were going because of the darkness.
After a few moments he simulated the regular breathing of deep slumber.
And when they spoke of it to the others they were assured that it would be quite regular, and a most splendid termination of a remarkable romance.
Why, d'ye know, when I'm playin' an' he's singin', it's a regular duet of what the sky-pilots 'd call religion an' knowin' God.
We only want an old man and a young one, and a third pal of yours who is a gentleman born, to make a regular clearance in the house.
At the conclusion of each massacre in either country, or as soon thereafter as practicable, or at stated regular periods, as may be provided by treaty, there shall be an exchange of scalps between the two Governments, scalp for scalp, without regard to sex or age; the Government having the greatest number is to be taxed on the excess at the rate of $1000 a scalp, and the other Government credited with the amount.
The Appeal to Reason was a weekly, and its regular circulation amongst the proletariat was seven hundred and fifty thousand.
But all these forms, though they were not altogether without later influence, were very minor affairs, and the real drama of the Middle Ages grew up, without design and by the mere nature of things, from the regular services of the Church.
And, to say the truth, I question, as here was no regular information before him, whether his conduct was strictly regular.