Only platform dedicated to Watching the Watchers
RegWatch covers the issues, controversies, and impacts arising from the regulation of economic, social and environmental activity in Canada & U.S.
Regulatory Power & Impact
Regulatory agencies have enormous power over every aspect of our professional & personal lives. Responsible for presiding over the laws passed by federal, state and provincial governments—regulators implement, manage and enforce the legislation that governs how people do business, extract & commercialize natural resources, develop the land, work, and spend leisure time.
Why We Need Regulators & What They Do
By setting rules and issuing orders and enforcement decisions, Canadian regulatory bodies protect Canadians from inherent risks in the banking system, stock markets and insurance industry. They oversee our shared natural resources ensuring the environment is protected and consumers are respected as Canada’s oil, natural gas, minerals and hydro-electric power are captured and brought to market. Regulators set the policies and standards that govern the building of our homes, towns & cities. They maintain strict controls over the manufacture, distribution and consumption of beer, wine & liquor. And, they manage the way we game—from lotteries & scratch tickets to slot machines and the blackjack tables.
News Values & Viewpoint
- There are both virtues & vices of regulation
- Regulation is necessary for the functioning of a market economy and oversight is essential, especially for monopolistic elements
- Efficiency, consistency, transparency, accountability & fairness in a regulatory system is paramount
- Excessive regulation & bureaucratization creates major barriers to competitiveness & economic growth – regulators should regulate not participate!
- Environmental & sustainability objectives must be in balance with economic and social imperatives
- Many stories are considered too small for in-depth or sustained coverage
- Mainstream media often does a poor job delving into the complexity of regulatory issues and suffer from authority bias and public opinion bias
- Public debate is essential to the regulatory process as it drives social license - misinformation must be identified and addressed
- Regulatory strategy & structures are rich in tensions & contradictions, thus opinion matters