(Entry 1 of 2) 1 : the act of regulating : the state of being regulated. 2a : an authoritative rule dealing with details or procedure safety regulations. b : a rule or order issued by an executive authority or regulatory agency of a government and having the force of law.

While the Occupational Safety and Health Administration (OSHA) regulates workplace safety, the Environmental Protection Agency (EPA) sets rules to limit environmental pollution. The EPA’s regulations are different—most of the relevant standards for manufacturers are based on the Clean Air Act.

Benefits of Deregulation

• It stimulates economic activity because it eliminates restrictions for new businesses to enter the market, which increases competition.
• Since there is more competition in the market, it improves innovation and increases market growth as businesses compete with each other.

Regulations empower us as consumers to make informed decisions about our health and safety. They give us peace of mind as employees, that our employer’s practices will be fair and that public spaces will be clean and meet the necessary standards.

The major areas of legislative activity along with a few federal government regulation examples are:

• Taxes and Financial Regulation.
• Employee Wage and Hour Rules.
• Workplace Safety.
• Discrimination Law.
• Environmental Protection.
• And So Much More.
• Business Registration.
• Food Establishments.

Regulation may be defined as the combination of organizations, rules, and sanctions that result in behaviors consistent with orderly markets, accountability, transparency and stability. It is in that context that good regulation should be viewed as a driving force for reliable and high quality financial services.

A clear focus on purpose, an agility of response, a reputation for trustworthiness, the curious mind of a scientist, an attitude of humility, a commitment to unbiased decision-making, and a proactive approach to preventing harm are all qualities that will stand regulators of the future in good stead.

The FCA’s 11 principles of business

• Integrity. A firm must conduct its business with integrity.
• Skill, care and diligence.
• Management and control.
• Financial prudence.
• Market conduct.
• Customers’ interests.
• Communications with clients.
• Conflicts of interest.