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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.
Independent agencies exist outside the federal executive departments (those headed by a Cabinet secretary) and the Executive Office of the President. [1]: 6 There is a further distinction between independent executive agencies and independent regulatory agencies, which have been assigned rulemaking responsibilities or authorities by Congress.
Regulatory economics is the application of law by government or regulatory agencies for various economics-related purposes, including remedying market failure, protecting the environment and economic management.
These further cloud attempts to enumerate a list of agencies. [3] [4] The executive branch of the federal government includes the Executive Office of the President and the United States federal executive departments (whose secretaries belong to the Cabinet). Employees of the majority of these agencies are considered civil servants.
Regulatory agencies. May relate to List of United States federal agencies; Central Electricity Regulatory Commission (India) or to regulatory agencies in other countries.
The customary method by which agencies of the United States government are created, abolished, consolidated, or divided is through an act of Congress. [2] The presidential reorganization authority essentially delegates these powers to the president for a defined period of time, permitting the President to take those actions by decree. [3]
Small business people recognize that some government regulation is essential for maintaining an orderly society. But there are now 90 agencies issuing thousands of new rules each year." Moreover, the report said, the new Office of Advocacy had estimated that small firms spent $12.7 billion annually on government paperwork.
The Federal Energy Regulatory Commission (FERC) is an independent agency of the United States government that regulates the interstate transmission and wholesale sale of electricity and natural gas and regulates the prices of interstate transport of petroleum by pipeline.