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 ?
The results of the study indicate that: in the short term, the government control is the Granger reason of environment pollution change, but environment pollution is not the Granger reason of government regulation change.
Government Regulation of the Employment Relationship features eighteen chapters organized into four sections: Theoretical Perspectives; Programs and Empirical Evidence; Administration and Enforcement; and Commentary.
Females were only slightly more likely to favor government regulation than males (40 percent versus 38 percent) while they were nearly twice as likely as males to be undecided on the issue (20 percent versus 11 percent).
Clarke's work demonstrates the importance of documenting the impact of government regulations over long time spans.
In A Future for the American Economy, Bruyn foretells a major shift toward self-regulation of market systems, arguing that such a trend would encourage cooperation among businesses, improve productivity, create a more-humane economy, and reduce taxes by reducing the need for government regulations.
-- For the 12th year in a row, more Americans say there is "too much" government regulation of business and industry than say there is either "too little" or "the right amount." Forty-five percent of U.S.
Government regulations are hitting small companies hard, according to new research.
Republicans would argue that government regulation impedes efficient production.
As the flamboyant head of an industryfunded, for-profit think tank called the Center for Regulatory Effectiveness, Tozzi has made his career in the decidedly unflamboyant field of government regulation. In the three decades or so since the Environmental Protection Agency, Occupational Safety and Health Administration, and other agencies were formed, industry has become adept both at weighing down the rulemaking process with years of preliminaries and at challenging regulations once promulgated.
VAT and employee taxation are the two areas of government regulation and paperwork that take Welsh businesses the most amount of time to process, with more than two thirds citing these as their biggest bugbear.
The fact is, there is a real disjuncture here--a sort of "living in two worlds," when government regulation is addressed in public forums.
In Iceland, there's no government regulation regarding nondisclosure of personal medical information, said Slack.

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