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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 ...
India veers towards central regulation, especially of financial organizations and foreign funds. Compliance regulations vary based on the industry segment in addition to the geographical mix. Most regulation comes in the following broad categories: economic regulation, regulation in the public interest, and environmental regulation. [21]
Regulation in the social, political, psychological, and economic domains can take many forms: legal restrictions promulgated by a government authority, contractual obligations (for example, contracts between insurers and their insureds [1]), self-regulation in psychology, social regulation (e.g. norms), co-regulation, third-party regulation, certification, accreditation or market regulation.
The public interest theory of regulation claims that government regulation acts to protect and benefit the public. [1] The public interest is "the welfare or well-being of the general public" and society. [2] Regulation in this context means the employment of legal instruments (laws and rules) for the implementation of policy objectives.
Download as PDF; Printable version; ... Regulatory compliance (3 C, 24 P) Pages in category "Economics of regulation" The following 39 pages are in this category ...
A regulatory agency (regulatory body, regulator) or independent agency (independent regulatory agency) is a government authority that is responsible for exercising autonomous dominion over some area of human activity in a licensing and regulating capacity.
Financial regulation is a broad set of policies that apply to the financial sector in most jurisdictions, justified by two main features of finance: systemic risk, which implies that the failure of financial firms involves public interest considerations; and information asymmetry, which justifies curbs on freedom of contract in selected areas ...
There is no consensus about what should and should not be included under the definition of compliance costs, although one distinction usually made is between gross versus net compliance costs. The difference between the two is made up by any financial or managerial benefit derived by the taxpayer from tax compliance.