Part of the reason for the regulatory failure was simple bureaucratic indifference or incompetence.
He added that Labour had accepted and apologised for "our responsibilities" in global regulatory failure.
Although his report was triggered by tales of televangelists running lucrative things such as recording studios and selling oil and gas under cover of the religious exemption, it highlights a serious regulatory failure at the heart of America's charitable sector.
Threats of higher taxes, the constantly increasing regulatory burden, the failure to pursue an aggressive trade policy that will open markets to U.S. exports, and the enormous increase in government spending all are growth impediments.
They firmly blamed the bosses of Barclays bank for the way their staff tried to manipulate the Libor rate-setting process at various times between 2005 and 2009, in what the committee's chairman called a period of "extremely weak internal compliance and board governance at Barclays" and a "failure of regulatory supervision".
What makes the Madoff story interesting, though not evidence of systematic failure of the regulatory or legal system, is that Mr. Madoff and some of his clients had dealt on a basis of trust for more than a generation.
This presentation is intended as an in-depth analysis of this critical failure in the current regulatory framework.
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If Spectrum Assets are not acquired due to a failure to obtain required regulatory approvals, Clearwire would, within 30 days following termination of the spectrum purchase agreement, repay the PIK Debenture plus interest at 6% per annum.
Until now, a big stumbling block has been the government's failure to reassure private investors that regulatory agencies set up during the 1990s are still fully independent.
The "market failure" that resulted in insufficient competition in a given industrial sector may have been lamentable, but through hard-won experience we have learned that the antitrust or regulatory responses often amounted to a "political failure" that was worse thwarting entrepreneurship and the emergence of new business models and often resulting in higher prices for consumers.
It will consider the extent to which the current regulatory regime has failed, and whether there has been a failure to act upon any previous warnings about media misconduct.
Following standard procedure, the ten banks welcomed the settlement with smiling faces, knowing failure to settle could have cost them much more in terms of regulatory repression.
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Anti-regulatory zeal and the belief that markets would self-regulate led to an oversight failure in fiscal markets and dire consequences that I would argue are still reverberating today.
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Planned Parenthood has been and is under congressional and criminal investigation (by attorneys general, local prosecutors and various regulatory agencies in Arizona, Indiana, Alabama, Kansas and Texas) for allegations including failure to report criminal child sex abuse, misuse of health-care and family-planning funds, and failure to comply with parental-involvement laws regarding abortions.
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Unless the SEC and Financial Industry Regulatory Authority craft strong rules, Mr. Abshure said, a combination of fraud, high failure rates for startups and an "inevitable advertising onslaught of pie-in-the-sky offers" will kill investor confidence in buying shares online.
The pre-eminent statutory authority for civil and criminal liability exposure for failure to disclose in securities transactions is Section 10(b) of the 1934 Act and its regulatory offspring Rule 10b-5.
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