Regulatory Agencies

regulation

the act of regulating; the state of being regulated; an authoritative rule dealing with details or procedure safety regulations; a rule or order issued by an executive authority or regulatory agency of a government and having the force of law

regulatory agency

independent governmental body established by legislative act in order to set standards in a specific field of activity, or operations, in the private sector of the economy and then to enforce those standards

regulatory agency characteristics

1. typically, part of the executive branch of government

2. ensure the compliance of legislation

3. developed around a specific mission and responsible for enforcing rules on certain issues and/or industries

independent regulatory agency

independent from other branches or arms of the government