The Center for Effective Government states that an independent regulatory commission is an agency created through an act of Congress, and it is separate from the executive departments. They are still considered part of the executive branch, but independent regulatory commissions and agencies must be free from political influence.
Dr. Stephen Hartman explains that their purpose is to impose and enforce regulations within the scope of their individual designations. The Environmental Protection Agency is one independent regulatory commission created to control and diminish environmental pollution. The Consumer Product Safety Commission was created to ensure that only safe products are on store shelves. Many other independent regulatory commissions exist for purposes ranging from aviation to communication.Learn More
A statutory requirement is a requirement written into a law passed by a legislative body, while regulatory requirements are those requirements made by a government agency in accordance with the law, according to the Maryland Office of the Secretary of State. A legislature gives agencies the right to make regulations.Full Answer >
A regulatory framework can have varying meanings, but it commonly pertains to tax information, necessary regulations and other important information, like relevant rules, laws and regulatory bodies. Regulatory frameworks are important tools for businesses that are about to launch because these frameworks outline the measures of burden new businesses must be aware of when they begin to establish their enterprises..Full Answer >
An independent witness is a third-party witness who does not have an affiliation with either parties involved in a case and someone who can present an unbiased opinion, as noted by Cornell University. Independent witnesses do not have anything invested in the outcome of a case, meaning the witness will not profit from the results of the case.Full Answer >
An example of a critical regulatory issue in health care is the process of developing a new drug for sale according to the National Institutes of Health. Federal bureaucracy, private regulatory agencies that may have conflicts of interest and an unclear division of authority are factors that keep the process from being streamlined.Full Answer >