Examples of regulatory agency in the following topics:
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- Independent regulatory agencies create and enforce regulations to protect the public at large.
- An independent regulatory agency is separate from the other branches of the federal government.
- To better understand how independent regulatory agencies function, let us consider the U.S.
- Congress may determine that regulatory agencies are obsolete, for example, and may therefore discontinue funding them.
- Use the work of the FDA as an example to describe the activity and mission of regulatory agencies more broadly
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- However, the actual development and implementation of policies are under the purview of different bureaucratic institutions mainly comprised cabinet departments, independent executive agencies, government corporations, and regulatory agencies.
- Some agencies, such as the U.S.
- Another type of bureaucratic institution is a regulatory commission, an agency charged with writing rules and arbitrating disputes in a specific part of the economy.
- Probably the most prominent regulatory commission currently in the news is the Federal Reserve Board.
- Differentiate between cabinet departments, independent executive agencies, government corporation, and regulatory agencies in making policy
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- By the early 1990s, Congress had created more than 100 federal regulatory agencies in fields ranging from trade to communications, from nuclear energy to product safety, and from medicines to employment opportunity.
- Many regulatory agencies are structured so as to be insulated from the president and, in theory, from political pressures.
- Each agency has a staff, often more than 1,000 persons.
- In some ways, regulatory agencies work like courts.
- Despite the official independence of regulatory agencies, members of Congress often seek to influence commissioners on behalf of their constituents.
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- Beginning in the late 19th and 20th century, much of regulation in the United States was administered and enforced by regulatory agencies which produced their own administrative law and procedures under the authority of statutes.
- Legislators created these agencies to allow experts in the industry to focus their attention on the issue.
- At the federal level, one the earliest institutions was the Interstate Commerce Commission which had its roots in earlier state-based regulatory commissions and agencies.
- Later agencies include the Federal Trade Commission, Securities and Exchange Commission , Civil Aeronautics Board, and various other institutions.
- The Securities and Exchange Commission is an example of a government regulatory agency.
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- The Federal Communications Commission (FCC) is an independent regulatory agency of the United States government.
- The Federal Communications Commission (FCC) is an independent regulatory agency of the United States government created by Congressional statute, with the majority of its commissioners appointed by the current president .
- The FCC is funded entirely by regulatory fees.
- However, the FCC's regulatory domain with respect to indecency remains restricted to the public airwaves, notably VHF and UHF television and AM/FM radio.
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- Independent executive agencies operate as regulatory and service agencies to oversee federal government functions.
- In the United States federal government, Congress and the President have the ability to delegate authority to independent executive agencies, sometimes called federal agencies or administrative agencies.
- Constitution does not explicitly reference federal agencies.
- However, executive agencies have to remain nonpartisan.
- The Federal Communications Commission (FCC) is one of many independent executive agencies.
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- If this agency insures, then it also regulates.
- Therefore, a state bank could have one or more regulatory agencies to deal with.
- Thus, they have their own regulatory agencies.
- The Federal Home Loan Bank System (FHLBS) is a U.S.government agency similar to the Federal Reserve.
- This agency also insures the deposits at credit unions while the FDIC does not.
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- The are three specific regulatory inefficiencies:
- Regulatory arbitrage occurs when a regulated institution takes advantage of the difference between its real risk and the regulatory position.
- Regulatory capture occurs when regulatory agencies co-opt whether its the members or the entire regulated industry.
- Mechanisms that allows regulatory capture include rent seeking and rational ignorance.
- Regulatory risk is a risk faced by private sector firms when there is a chance that regulatory changes will negatively affect their business.
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- That produced a new regulatory cautiousness at agencies like OSHA.
- The EPA in the 1990s, under considerable legislative pressure, turned toward cajoling business to protect the environment rather than taking a tough regulatory approach.
- The agency pressed auto-makers and electric utilities to reduce small particles of soot that their operations spewed into the air, and it worked to control water-polluting storm and farm-fertilizer runoffs.
- The government, meanwhile, has tried to use price mechanisms to achieve regulatory goals, hoping this would be less disruptive to market forces.
- Many states moved to end regulatory controls on electric utilities, which proved a very complicated issue because service areas were fragmented.
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- Regulatory reform is a parallel development alongside deregulation.
- Such efforts, given impetus by the Regulatory Flexibility Act of 1980, are embodied in the U.S.
- Another catalyst of reform has been regulatory innovations (such as emissions trading), usually suggested by economists..
- One phenomenon that encouraged deregulation was the fact that regulated industries often controlled the government regulatory agencies and used them to serve the industries' interests.
- Even when regulatory bodies started out functioning independently, a process known as regulatory capture often saw industry interests come to dominate those of the consumer.