Chapter

Making Rules

Julia Black

in Rules and Regulators

Published in print May 1997 | ISBN: 9780198262947
Published online March 2012 | e-ISBN: 9780191682421 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780198262947.003.0007

Series: Oxford Socio-Legal Studies

Making Rules

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This chapter examines how rules have been used in financial services regulation and their implied nature of limitations and trade-offs required in rule formation, and seeks to gain a deeper understanding of the rule making decision. The process of rule making is found to be better understood by understanding policy making, organizational and bureaucratic decision making, and the nature of rules, their limitations and potential. However, it is imperative that the issue of the strategic use of rules is separated from the contextual limitations of the rule maker. In developing a theory of making rules for regulation, considering rule making as a form of both policy making and organizational or bureaucratic decision making is suggested. The nature of rules should also be seen as an important aspect of decision making, differentiating it both from generalized policy making and from individualized discretionary decision making.

Keywords: rule making; policy making; financial services regulation; rules; decision making

Chapter.  15863 words. 

Subjects: Constitutional and Administrative Law

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