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 ?
Both Section 987 and the 1991 proposed regulations require the taxable income or loss of a Section 987 QBU be computed in its functional currency and then translated at the average exchange rate (generally, an average of the daily exchange rates) into the functional currency of its owner.
However, the IOM report specifically warns against computing league tables across regulations or areas of regulation, noting that what is considered a benefit and what should be counted as a cost differs from analysis to analysis.
The states claimed the turf of insurance regulation early on, and the federal government raised little objection.
Complete groundfish regulations, and all updated regulations for 2005, will be published in next year's Ocean Sport Fishing Regulation booklet.
Boris Feldman, a partner and securities litigator in law firm Wilson Sonsini Goodrich & Rosati's Palo Alto, California, office, advises publicly traded companies on regulation FD.
This federal preemption is a matter of considerable consequence, since the 10th Amendment would otherwise preclude federal regulation in many of these areas.
In writing regulations for assisted living, each state must address how to place "restrictions" or limitations on an entity that is defined by its creativity and its flexibility, to tailor a model based on residents' needs.
To free Americans from bureaucratic red tape," the Contract With America states, "we will require every new regulation to stand a new test: Does it provide benefits worth the cost?
CLIA expands the scope of regulation of clinical laboratories by requiring all clinical laboratories to comply with certification requirements, regardless of the type of laboratory and regardless of whether the laboratory receives federal funds.
Where EPA Regulations Are Taking the Foundry Industry
This study involved an in-depth analysis of multiple frequency regulation scenarios for three of the grid operators we are targeting," said Bill Capp, president and CEO of Beacon Power.