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to monitor and regulate the activities of business
Various regulatory agencies and laws have been created to regulate specific areas of American life. These include the Food and Drug Administration (FDA) to regulate food and drug safety, the Environmental Protection Agency (EPA) to regulate environmental issues, the Federal Communications Commission (FCC) to regulate telecommunications and media, and the Securities and Exchange Commission (SEC) to regulate financial markets and protect investors, among many others.
In the United States. these activities are regulated by the Department of Energy and the Nuclear Regulatory Commission. Most other countries have similar politically-independent regulatory agencies.
Federal Trade Commission, Federal Power Commission, Federal Energy Regulatory Commission
Statutory refers to laws passed by the state of federal government. Regulatory means a rule issued by some agency that the government has given authority to regulate an industry.
regulate
The new federal agencies that increased the government's power to regulate the economy is the federal banking system. This has made it possible to monitor and control the economy of the country.
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The main purpose of independent agencies is to regulate businesses and administer governmental programs. Additionally, they have legislative, executive and judicial powers and can influence the wishes of the president, congress and the public. Independent agencies can also have greater freedom and less presidential control than most other governmental agencies. Regulatory agencies represent a compromise between government ownership of industry and all powerful private corporations. Independent agencies are created by congress and sometimes work counter to the president's wishes.
In India, it's the IRDA of Insurance Regulatory Development Authority that controls both life and general insurance business, though SEBI (Security and Exchange Board of India) has partial control especially where stock market related policies are concerned.
Regulate gene transcription.
Independent Regulatory CommissionsRegulatory Commissions have a special place in the federal bureaucracy. They are independent of the three branches of government. The President appoints the members with Senate approval. Unlike other bureaucrats, these agencies do not report to the executive branch and the President cannot fire them. Members of the commissions serve for a fixed term. The independent regulatory commissions were created to make rules for large businesses that effect the interest of the public. Not only do they regulate the conduct of these industries but they have the power to determine who will receive licenses to operate. They also have the power to investigate these businesses they regulate. Examples of Independent Regulatory Commissions are the Federal Communications Commission and the Federal Reserve Board. MrV