ABSTRACT
Several issues can be raised with respect to regulation and standards, such as the reasons to regulate, the selection of a certain regulatory strategy, explanations for the chosen type of regulation, the setting of standards, regulatory enforcement and risk issues (see Baldwin and Cave (1999) for a general overview). In this case our aim is more limited and mainly focuses on issues of enforcement and compliance. Regulation generally comprises three stages:
1 the enactment and enabling of legislation; 2 the creation of regulatory administrations and rules; and 3 the bringing to bear of those rules on the persons or institutions sought to be
influenced or controlled (Hutter 1997).
