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An agency enforcing legislation and setting rules governing certain actions. For example, the Internal Revenue Service in the United States is a regulator because it collects taxes, enforcing the U.S. Tax Code. In securities, regulators often require companies to disclose their actions to see to it that as much information as possible is publicly available. Other regulators govern business practices. For example, they may enforce 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 are needed. Proponents of more regulation assert that it ensures a fair market and sustainable growth, while critics argue that many regulations do more harm than good.
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