Regulatory Agencies in the United States

Introduction to Regulatory Agencies

According to the Encyclopedia of the American Constitution, Regulatory agencies are governmental bodies created by legislatures to carry out specified state or national policies. Such an agency is typically responsible for regulating one particular area of social or economic life; it is staffed by specialists who develop the knowledge on the subject matter.

Regulatory Agencies meaning

Mass industrial society has created mass accidents and grave injuries. To attempt to govern this reality regulatory agencies exist which first propose to guaranty standards to consumers and second to provide remedies under universal insurance programs such as accident, unemployment, and health insurance. Their proceedings are governed by administrative regulation rather than statute. See: procedure.

Executive Order 13579

Executive Order in relation with Regulation and Independent Regulatory Agencies (July 11, 2011):

“By the authority vested in me as President by the Constitution and the laws of the United States of America, and in order to improve regulation and regulatory review, it is hereby ordered as follows:

Section 1. Policy. (a) Wise regulatory decisions depend on public participation and on careful analysis of the likely consequences of regulation. Such decisions are informed and improved by allowing interested members of the public to have a meaningful opportunity to participate in rulemaking. To the extent permitted by law, such decisions should be made only after consideration of their costs and benefits (both quantitative and qualitative).

(b) Executive Order 13563 of January 18, 2011, “Improving Regulation and Regulatory Review,” directed to executive agencies, was meant to produce a regulatory system that protects “public health, welfare, safety, and our environment while promoting economic growth, innovation, competitiveness, and job creation.” Independent regulatory agencies, no less than executive agencies, should promote that goal.

(c) Executive Order 13563 set out general requirements directed to executive agencies concerning public participation, integration and innovation, flexible approaches, and science. To the extent permitted by law, independent regulatory agencies should comply with these provisions as well.

Sec. 2. Retrospective Analyses of Existing Rules. (a) To facilitate the periodic review of existing significant regulations, independent regulatory agencies should consider how best to promote retrospective analysis of rules that may be outmoded, ineffective, insufficient, or excessively burdensome, and to modify, streamline, expand, or repeal them in accordance with what has been learned. Such retrospective analyses, including supporting data and evaluations, should be released online whenever possible.

(b) Within 120 days of the date of this order, each independent regulatory agency should develop and release to the public a plan, consistent with law and reflecting its resources and regulatory priorities and processes, under which the agency will periodically review its existing significant regulations to determine whether any such regulations should be modified, streamlined, expanded, or repealed so as to make the agency’s regulatory program more effective or less burdensome in achieving the regulatory objectives.

Sec. 3. General Provisions. (a) For purposes of this order, “executive agency” shall have the meaning set forth for the term “agency” in section 3(b) of Executive Order 12866 of September 30, 1993, and “independent regulatory agency” shall have the meaning set forth in 44 U.S.C. 3502(5).”

Regulatory Agencies (Banking Law)

This section introduces, discusses and describes the basics of regulatory agencies. Then, cross references and a brief overview about Banking Lawin relation to regulatory agencies is provided. Note that a list of bibliography resources and other aids appears at the end of this entry.