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Business Law: Why do we have regulatory agencies?

1.Why do we have regulatory agencies? Why does a business person need to know who his major regulators are? Name one at the federal level that impacts business communications and briefly describe its functions and impact on business communications.

2.Data privacy has come under increased regulatory scrutiny. Comment on the differences between self-regulated and regulated aspects of this topic and how a business person must consider both legal and ethical aspects of the actions they take when conducting business, including international operations.

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1. Regulatory agencies have become popular means of promoting fair trade and consumer protection as problems of commerce and trade have become more complex, particularly in the 20th century.

A regulatory agency is a government department that has responsibility over the legislation (acts and regulations) for a given sector. Regulatory agencies exist at the federal and state level. These agencies can impact a variety of businesses, in a variety of ways - through regulations on products, antitrust rulings, compliance laws, etc. An example would be the Federal Trade Commission voiding a proposed merger of Microsoft and Yahoo out of concerns that a combination of the two companies would have an unfair competitive advantage in the market.

Another government agency, the Securities and Exchange Commission, stores information on all publicly traded companies in an online database. This database provides earnings data and annual reports on public companies to the general population.

The following is a list of selected U.S. federal regulatory ...

Solution Summary

This solution discusses the need for regulatory agenices and why a business person should know who there major regulators are. In addition it discusses data privacy both self regulated and regulated aspects of the topic. It includes a list of selected federal agencies.

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