BL 260 Chapter Notes - Chapter 43 and 44: U.S. Consumer Product Safety Commission, Chevron Corporation, Consumer Protection
Document Summary
Directed sec to enforce securities laws, promote stability in stock markets, and protect investors. Government organizations that oversee and administer specific areas. Ex: sec, ftc, epa, irs, fda, cia, nasa. Agencies create rules, orders, and regulations: administrative law. A big part of doing business is compliance with agency rules. Agency creation and powers: congress creates agency with enabling legislation, agency implements statute. Statute from congress created agency: securities and exchange commission (sec) Answer: congress (cia, consumer financial protection bureau, and sec are agencies created by. Congress; their authority comes from enabling legislation that is passed by congress; congress delegates its authority to make laws to the agencies it has created) Agencies created by congress but function in all 3 branches. Notice and comment rulemaking 3 steps (required to make a rule that has the force of law) Parties can challenge regulations in court if they are so irrational that they are arbitrary and capricious.
