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Regulatory agencies
A regulatory agency (also regulatory authority, regulatory body or
regulator) is a public authority or government agency responsible
for exercising autonomous authority over some area of human
activity in a regulatory or supervisory capacity. An independent
regulatory agency is a regulatory agency that is independent from
other branches or arms of the government.
Regulatory agencies deal in the area of administrative
law—regulation or rulemaking (codifying and enforcing rules and
regulations and imposing supervision or oversight for the benefit
of the public at large). The existence of independent regulatory
agencies is justified by the complexity of certain regulatory and
supervisory tasks that require expertise, the need for rapid
implementation of public authority in certain sectors, and the
drawbacks of political interference. Some independent regulatory
agencies perform investigations or audits, and some are authorized
to fine the relevant parties and order certain measures. Regulatory
agencies are usually a part of the executive branch of
the government, or they have statutory authority to perform their
functions with oversight from the legislative branch. Their
actions are generally open to legal review. Regulatory authorities
are commonly set up to enforce standards and safety, or to oversee
use of public goods and regulate commerce.
