This paper argues that the Federal Communications Commission (FCC) has outlived the economic and technological conditions that justified its creation. The monopolistic telephone and spectrumscarcity environments of 1934 have been replaced by dynamic, intermodal competition across broadband,...

Global agencies such as the Internet Corporation for Assigned Names and Numbers (ICANN), the Internet Engineering Task Force (IETF), and the World Wide Web Consortium (W3C) play a central role in internet governance, developing the rules, guidelines, and procedures that shape both the...

EU energy law requires that energy regulators are independent. They must be able to exercise their powers impartially and without interference by public or private entities or any government or other political entities. The independence is required to ensure compliance with EU rules and...

This paper discusses the imperative for financial supervisory authorities to enhance their toolkit through the adoption of Artificial Intelligence in response to the growing digitalization of financial services. It aims to assist authorities in safely and effectively overseeing applications of...

The report examines how central banks, financial regulators and supervisory authorities are using AI for policy purposes. They regularly work with vast data sets and complex decision-making processes to safeguard monetary and financial stability and ensure the integrity of payment systems. New,...

The technical mission aimed to strengthen the cyber risk regulation and supervision, and testing for the National Bank of Georgia (NBG). The mission focused on (i) an assessment of NBG's cyber risk regulation, (ii) an assessment of cyber risk supervisory arrangements of NBG, (iii) assisting in...

Following the traditional doctrine of the ‘regulatory state’, regulatory agencies should be given very focused mandates and stay away from the politicized realm of distributive policies and decisions. An opposing perspective would state that if regulatory agencies can contribute to economic...

The rise of intermediary-less decentralized finance (“DeFi”) lending has led many to wonder how it should be regulated. Although DeFi lending could potentially offer reduced risks of centralization and market frictions, investors in DeFi lending are currently exposed to centralized risks and...

Over the last couple of decades, non-majoritarian institutions (NMIs) have been introduced in many countries. Of late, they have been criticized as promoting technocracy to the detriment of democracy. A number of political scientists even argue that they would strengthen populists and be, hence,...

This study examines the role of market surveillance at EU and Member State level, analysing the EU market surveillance framework, its gaps and challenges, as well as cross-border cooperation between market surveillance authorities and collaboration with and among customs authorities for...

Das Lehrbuch gewährt einen systematischen Überblick über das Schweizer Finanzmarktrecht samt einer ökonomischen Fundierung. Die fünfte Auflage berücksichtigt die jüngsten Entwicklungen der Gesetzgebung sowie die an den Finanzmärkten aufgetretenen Turbulenzen und deren Bewältigung,...

Section 5 of the Federal Trade Commission Act of 1914 declares “unfair methods of competition” to be unlawful, but the precise meaning of that phrase has long been contested. Both the FTC and courts have generally deemed Section 5 to be textually ambiguous, and they have hence interpreted...

The expression “personnel is policy” has become a truism in Washington. Yet our understanding of how the political branches use appointments to project influence into the administrative state is incomplete. This Article leverages data on almost one-thousand commissioners on eleven major...

There is growing concern about "algorithmic bias" - that predictive algorithms used in decision-making might bake in or exacerbate discrimination in society. We argue that such concerns are naturally addressed using the tools of welfare economics. This approach overturns prevailing wisdom about...

The US Food and drug Administration (FDA) is estimated to regulate markets accounting for about 20% of consumer spending in the US. This paper proposes a general methodology to evaluate FDA policies, in general, and the central speed-safety tradeoff it faces, in particular. We apply this...

Around the world, regulatory institutions have assumed central roles in making and implementing public policy decisions. How well regulatory leaders manage these institutions ultimately shapes the degree to which regulation can succeed in solving social and economic problems. This chapter seeks...

The Federal Trade Commission’s initiative to use rulemaking powers to target “unfair methods of competition” under the FTC Act is part of a broader package of dramatic recent changes in antitrust enforcement policy and practice by FTC leadership. These changes, which have rejected the...

Regulatory agencies have traditionally been concerned with deterring unlawful conduct in the public interest. This article explores the emerging role of agencies in securing compensation for individuals in mass damage situations resulting from violations of EU private law. It identifies three...

Purpose Reflecting on recent empirical developments as well as insights from regulatory state theory, the paper considers directions in which the regulatory state could develop in the post-COVID-19 era. Design/methodology/approach: This is a de-contextualised analysis of regulatory developments...

This chapter explores the interaction between the enforcement of and compliance with difficult-to-enforce rules in the context of data regulation. We focus on the effect of the introduction of the GDPR and its transparency principle on the readability of privacy policies for a large sample of...

Im Rahmen der Energieversorgung steht die Bundesnetzagentur verstärkt im Fokus der Öffentlichkeit. Dabei beschäftigt sich die Behörde nicht alleine mit Fragen der Energieversorgung. Hinzu treten Fragen der Netzinfrastrukturregulierung, die auch die Bereiche des Telekommunikations-, Post- und...