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Simple English definitions for legal terms
independent regulatory commission
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A quick definition of independent regulatory commission:
An independent regulatory commission is a group of people who make rules and decisions about certain things, like how businesses should operate or how much money people should pay for certain services. They are independent, which means they are not controlled by the government or any other group. Their job is to make sure that everyone follows the rules and that things are fair for everyone.
A more thorough explanation:
An independent regulatory commission is a type of independent agency that is created by the government to regulate and oversee a specific industry or sector. These commissions are independent from the executive branch of government and are designed to operate free from political influence.
For example, the Federal Communications Commission (FCC) is an independent regulatory commission that is responsible for regulating the telecommunications industry in the United States. The FCC has the power to enforce rules and regulations related to radio, television, and other forms of communication.
Another example is the Securities and Exchange Commission (SEC), which is responsible for regulating the securities industry and protecting investors. The SEC has the power to investigate and prosecute individuals and companies that violate securities laws.
These examples illustrate how independent regulatory commissions are created to oversee and regulate specific industries or sectors, and how they operate independently from the government to ensure fair and impartial regulation.
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