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Regulation is generally defined as legislation imposed by a government on individuals and private sector firms in order to regulate and modify economic behaviors. [1] Conflict can occur between public services and commercial procedures (e.g. maximizing profit ), the interests of the people using these services (see market failure ), and also ...
Regulatory compliance in the European Union (EU) is governed by a harmonized legal framework designed to ensure consistency across member states while allowing for national implementation. EU compliance regulations cover various industries, including consumer product safety, financial services, environmental protection, and data privacy.
Compliance with bank regulations is verified by personnel known as bank examiners. The objectives of bank regulation, and the emphasis, vary between jurisdictions. The most common objectives are: prudential—to reduce the level of risk to which bank creditors are exposed (i.e. to protect depositors) [7]
Malicious compliance is common in production situations in which employees and middle management are measured based on meeting certain quotas or performance projections. Examples include: Employees at a factory shipping product to customers too early so their inventory is reduced to meet a projection; [ 8 ]
A regulatory agency (regulatory body, regulator) or independent agency (independent regulatory agency) is a government authority that is responsible for exercising autonomous jurisdiction over some area of human activity in a licensing and regulating capacity.
Economic approaches to the issue of regulation also emphasize the high risk that regulatory costs may exceed benefits. From this perspective, the central purpose of RIA is to ensure that regulation will be welfare-enhancing from the societal viewpoint - that is, that benefits will exceed costs.
Download as PDF; Printable version; ... Regulatory compliance (3 C, 24 P) Pages in category "Economics of regulation"
Supply-side economics is a macroeconomic theory postulating that economic growth can be most effectively fostered by lowering taxes, decreasing regulation, and allowing free trade. [ 1 ] [ 2 ] According to supply-side economics theory, consumers will benefit from greater supply of goods and services at lower prices, and employment will increase ...