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 periodicals archive ?
Some of the provisions in local government regulations date back to 1960, he said.
He said that in their opinion such amendments and changes will be brought in the FATA Local Government Regulations which will guarantee the use of political, administrative and financial powers of the local government by the public representatives.
The findings of Government Regulation and the Small Firm, the latest report from the Institute for Small Business and Entrepreneurship (ISBE), have brought together the latest research from leading UK academics on the impact of regulations on small firms.
SATA is also the best choice for Tier 3 (off-line) given the need that government regulations such as Sarbanes-Oxley and HIPAA have imposed on search and retrieval of company records containing both structured and unstructured data.
The BRT has utilized free trade rhetoric to promote numerous pieces of phony free trade legislation under the banner of lifting government regulations and restrictions on trade.
A federal appeals court ruled in September that a logging company did not have grounds to challenge government regulations preserving for religious purposes a site in Bighorn National Forest that is sacred to Native Americans.
"I would say one of the biggest challenges I deal with is staying ahead of all the technological advancements in our client's industry; government regulations and international business," says Larson.
Difficulties with domestic shipping practices, untrained labor pools, hoary government regulations and counterfeiting were among the major headaches cited.
Nearly two-thirds of Welsh respondents didn't think that they spent too much time complying with government regulations, although this does vary for those businesses with a turnover of more than pounds 500,000, where two-thirds felt they had to deal with too much paperwork.
With assistance from the Bush administration, a little-known statute called the "Data Quality Act"--conceived by Tozzi and passed with little debate by Congress three years ago--allows businesses to challenge not just government regulations, but the taxpayer-sponsored science which agencies rely upon to formulate these rules in the first place.
From the roller coaster ride of the economy to foreign competition to increasing government regulations, today's metalcaster has to keep one eye on production and the other on the external pressures surrounding us.
The TUC is to co-ordinate a legal challenge by seven unions against government regulations aimed at giving new rights to gay and lesbian workers, it was announced today.

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