Principles-Based Regulation and Emerging Technology

Ruth B. Carter, Gary E. Marchant

Research output: Chapter in Book/Report/Conference proceedingChapter

1 Scopus citations

Abstract

This chapter considers the application of principles-based regulation to the regulation of emerging technologies in the United States. Principles-based regulation is used in financial regulation outside the United States. Concrete rules are often swiftly obsolete in industries where innovation is common. Principles-based regulation would give the government an opportunity to keep up with technological advances. If principles-based regulation was used instead of rules-based regulation, this could be a more efficient system because companies would have more flexibility and freedom in their product designs. Some of the drawbacks of employing this system with technology are that companies will seek assurance that they are in compliance before investing millions of dollars into a project that could be deemed illegal and companies will be hesitant to reveal information to prove that they are in compliance with the regulations because it could also reveal trade secrets.

Original languageEnglish (US)
Title of host publicationInternational Library of Ethics, Law and Technology
PublisherSpringer Science and Business Media B.V.
Pages157-166
Number of pages10
DOIs
StatePublished - 2011
Externally publishedYes

Publication series

NameInternational Library of Ethics, Law and Technology
Volume7
ISSN (Print)1875-0044
ISSN (Electronic)1875-0036

Keywords

  • Emerging technologies
  • Financial regulation
  • Principles-based regulation
  • Regulation
  • Rules-based regulation

ASJC Scopus subject areas

  • Biomedical Engineering
  • Information Systems
  • Public Administration
  • Safety Research

Fingerprint Dive into the research topics of 'Principles-Based Regulation and Emerging Technology'. Together they form a unique fingerprint.

Cite this