regulation


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Related to regulation: Self regulation

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 ?
No person held to Service or Labor in one State, under the Laws thereof, escaping into another, shall, in Consequence of any Law or Regulation therein, be discharged from such Service or Labor, But shall be delivered up on Claim of the Party to whom such Service or Labor may be due.
The Times, Places and Manner of holding Elections for Senators and Representatives, shall be prescribed in each State by the Legislature thereof; but the Congress may at any time by Law make or alter such Regulations, except as to the Places of chusing Senators.
And the second," continued Cornelius, "which is not written in the regulation, but which is to be found elsewhere: --
Because any jailer who strikes a prisoner is liable to two penalties, -- the first laid down in Article 9 of the regulations at Loewestein: --
In a way, the regulation was a good one, for it certainly accomplished that for which it was intended.
As I thought upon my misfortune, I considered more clearly than ever before the unrighteousness of the regulation which was to prove my doom, and in the natural revolt against its injustice my anger rose, and there mounted within me a feeling which I imagine must have paralleled that spirit that once was prevalent among the ancients called anarchy.
Such rejected or condemned animals shall at once be removed by the owners from the pens containing animals which have been inspected and found to be free from disease and fit for human food, and shall be disposed of in accordance with the laws, ordinances, and regulations of the state and municipality in which said rejected or condemned animals are located.
The opportunities which some States would have of rendering others tributary to them by commercial regulations would be impatiently submitted to by the tributary States.
With these counsels, and many others equally valuable, did Papa Wick fortify Bobby ere that last awful night at Portsmouth when the Officers' Quarters held more inmates than were provided for by the Regulations, and the liberty-men of the ships fell foul of the drafts for India, and the battle raged from the Dockyard Gates even to the slums of Longport, while the drabs of Fratton came down and scratched the faces of the Queen's Officers.
Besides being occupied with his estates and reading a great variety of books, Prince Andrew was at this time busy with a critical of survey our last two unfortunate campaigns, and with drawing up a proposal for a reform of the army rules and regulations.
The regulations which we are prescribing, my good Adeimantus, are not, as might be supposed, a number of great principles, but trifles all, if care be taken, as the saying is, of the one great thing,-- a thing, however, which I would rather call, not great, but sufficient for our purpose.
You wouldn't have had me advertise the fact that I improved upon the bank's regulations, would you?