A regulatory agency (also regulatory authority, regulatory body or regulator) is a public authority or government agency responsible for exercising autonomous authority over some area of human activity in a regulatory or supervisory capacity. An independent regulatory agency is a regulatory agency that is independent from other branches or arms of the government.
Regulatory agencies deal in the area of administrative law—regulation or rulemaking (codifying and enforcing rules and regulations and imposing supervision or oversight for the benefit of the public at large). The existence of independent regulatory agencies is justified by the complexity of certain regulatory and supervisory tasks that require expertise, the need for rapid implementation of public authority in certain sectors, and the drawbacks of political interference. Some independent regulatory agencies perform investigations or audits, and some are authorized to fine the relevant parties and order certain measures.
Regulatory agencies are usually a part of the executive branch of the government or has statutory authority to perform its functions. Their actions are generally open to legal review. Regulatory authorities are commonly set up to enforce standards and safety, to oversee use of public goods and regulate commerce. Examples of regulatory agencies are the Interstate Commerce Commission and U.S. Food and Drug Administration in the United States, Ofcom in the United Kingdom, and the TRAI in India.
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Role in public affairs
The regulatory process has three basic elements:
- Ensure that the exercise of regulatory power is rule-based.
- Regulated agencies have an effective means to defend themselves against unauthorized or arbitrary requirements or liabilities
- The wider interest group have a means to have their views considered and addressed in administrative decisions
Functioning
To ensure that it does fulfill its role, a regulatory agency uses mechanisms such as the following
- transparency of information and decision-making
- procedures of consultation and participation
- requirement that administrators give reasons explaining their actions
- requirement that administrators follow principles that promote non-arbitrary and responsive decisions
- arrangements for review of administrative decisions by courts or other bodies
Areas
- Advertising regulation
- Bank regulation
- Consumer protection
- Cyber-security regulation
- Financial regulation
- Food safety and food security
- Noise regulation
- Nuclear safety
- Occupational safety and health
- Public health
- Regulation and monitoring of pollution
- Regulation of acupuncture
- Regulation of nanotechnology
- Regulation of sport
- Regulation of therapeutic goods
- Regulation through litigation
- Telecommunication
- Vehicle regulation
- Regulation of ship pollution in the United States
- Regulation and prevalence of homeopathy
- Regulation of science
- Wage regulation
See also
- Civil service commission
- Code of Federal Regulations
- Crown corporation
- Deregulation
- Election commission
- European Community regulation
- Federal agency
- Government agency
- Government-owned corporation
- Independent agencies of the United States government
- Independent regulatory agencies in Turkey
- International regulation
- Law enforcement agency
- Liberalization
- Non-departmental public body
- Public administration
- Public utilities commission
- Quango
- Quasi-judicial body
- Regulation school
- Regulatory compliance
- Regulatory economics
- Special-purpose district
- Statutory corporation
- Statutory Agency
- Public bodies
References
- Global Administrative Law A Talk by Richard Stewart at University of Rome, La Sapienza. June 13, 2005
- Portal of the European independent agencies
- International comparison of position of independent agencies
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