This is “Summary and Exercises”, section 5.7 from the book The Legal Environment and Business Law (v. 1.0).
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Administrative rules and regulations constitute the largest body of laws that directly affect business. These regulations are issued by dozens of federal and state agencies that regulate virtually every aspect of modern business life, including the natural environment, corporate finance, transportation, telecommunications, energy, labor relations, and trade practices. The administrative agencies derive their power to promulgate regulations from statutes passed by Congress or state legislatures.
The agencies have a variety of powers. They can license companies to carry on certain activities or prohibit them from doing so, lay down codes of conduct, set rates that companies may charge for their services, and supervise various aspects of business.
Most federal administrative agencies are created by
The Federal Trade Commission, like most administrative agencies of the federal government, is part of
In the Clean Water Act, Congress sets broad guidelines, but it is the Environmental Protection Agency that proposes rules to regulate industrial discharges. Where do proposed rules originally appear?
The legal basis for all administrative law, including regulations of the Federal Trade Commission, is found in
The Federal Trade Commission, like other administrative agencies, has the power to