Regulatory reform

This conceptual review examines the unintended consequences of financial regulations, focusing specifically on the compliance burdens imposed on firms. Although ensuring stability, showing what happens in markets and building trust in the financial industry, these regulations tend to harm small and medium-sized enterprises (SMEs). Using theories of regulation, institutions, cost-benefit analysis and choice, the study examines how companies handle rules that are difficult to follow and shows how important it is for firms to find a balance between the expenses of obeying the law and the time and effort wasted on extra paperwork. An analysis of various sources highlights that due to the extra expense of complying with regulations, big firms survive whereas small firms (may) disappear, impacting innovation, leaving their markets or bending the rules. Emerging issues identified include the limited exploration of non-financial burdens such as cultural and reputational impacts-and the lack of consistent, multidimensional metrics to capture the full scope of compliance costs. The review emphasises that more research is needed to see how rules influence businesses in newly developed economies. It further emphasises the need to make regulation that is structured, flexible and fits both policy and economic purposes. The analysis helps regulators in developing strategies to make compliance easier while still following the regulations and it shows companies how best to deal with compliance challenges. Generally, the analysis provides a broader perspective on the effects of financial rules on corporate behaviours, expenses and the long-run survival of organisations.

This study investigates the evolutionary progression of Ponzi schemes in Nigeria from 2001 to 2025 and assesses their impact on household savings behavior. Using a mixed-methods approach and focusing on three emblematic case studies—Goldmine Investment Club (2008–2009), MMM Nigeria (2015–2017), and CBEX (2024–2025)—the research provides a longitudinal analysis of how financial fraud mechanisms evolve with technological, economic, and regulatory shifts. Findings show early schemes used physical networks and cash, digital-era schemes like MMM expanded via social media and mobile payments, while crypto-era frauds like CBEX deployed algorithm-driven deception targeting digitally literate yet vulnerable households. Impacts include reduced reliance on formal financial systems, greater preference for tangible assets, and psychological trauma leading to risk aversion or “revenge investing.” Socioeconomic factors such as income, literacy, and geography shaped susceptibility. The study proposes differentiated regulatory strategies and era-specific financial education to curb such fraud. It contributes to behavioral economics and policy discourse on fraud prevention in developing economies.

Keywords: Ponzi Schemes, Financial loss, Household Savings Behavior, Financial Literacy, Regulatory Reforms

Project management strategy in the public sector has attracted the interest of many scholars since the late 1980s, following the growing pressure on governments to abandon bureaucratic organisations in favour of leaner structures. Though Italy is considered a late developer in this movement, its scope, speed and consistency of reforms is considered remarkable [OECD, (2001), Reviews of Regulatory Reform in Italy]. Within this context many projects have been undertaken trying to implement the ideas of New Public Management (NPM) [Public Administration (1991) 69:3; Accounting, Organizations and Society (1995) 20:93]. This paper reports on a reengineering project carried out at the Italian Ministry of Treasury which tested a methodology drawn from the literature of process engineering. Multiple dimensions and actions proved to be crucial in managing the project: the paper discusses them and their relative importance over the life of the reengineering project.

The reform in the communication sectors as a result of liberalization and digital technology in the hitherto analog sector has brought in its wake a new phenomenon called Communication Convergence. Digital technology in the communications sector has converged the distinct communication subsectors into one. This has caused overlap of regulatory functions among the distinct regulators, collision in the regulatory bodies, ineffective or over regulation, inefficient use and allocation of scare resources and making most provisions in the enabling Act obsolete. This poses some legal and regulatory challenges to the regulators. In this regard, the paper using the doctrinal methodology analysed the Nigerian Communications Act 2003, other relevant legislations, policies, case law and literatures on communications. The study finds out that the existing Nigerian Communications Act 2003 is inadequate to engender an efficient and effective regulation of the sector in an ICT convergent era as the...

Abstract
The authority of the executive (Government) in formulating public policies in Indonesia is based on a hierarchy of laws and regulations that has undergone significant changes, particularly with the reorganization of this hierarchy in Law Number 13 of 2022 concerning the Second Amendment to Law Number 12 of 2011 concerning the Formation of Legislation. This change reaffirms the position of Government Regulations in Lieu of Law (Perppu) and adds new types of regulations such as Government Regulations, Presidential Regulations, and regulations at levels below them. This study aims to analyze the process of formulation, implementation, and challenges of public policies drafted by the executive, especially Presidential Regulations and Government Regulations, within the new hierarchical framework. The research method used is normative juridical with statute, conceptual, and case study approaches. The results show that the broad authority granted to the executive through the new hierarchy has the potential to accelerate legal and economic development, but on the other hand, raises concerns about the weakening of the DPR's legislative function, regulatory overlap, and judicial review in the Supreme Court. The discussion outlines the complexity of the relationship between the executive and the legislature and the importance of strengthening the system of checks and balances. The conclusion of this study is that although the new hierarchy provides legal certainty and flexibility for the executive, stronger oversight mechanisms from the DPR and civil society are needed to ensure that the resulting public policies remain based on the principles of democracy and public welfare.
Keywords: Public Policy, Executive, Hierarchy of Regulations, Job Creation Law, Presidential Regulation.

As of Aug. 1, US President Donald Trump has finalized a sweeping set of new and brutal trade tariffs on Southeast Asian countries after a series of bilateral negotiations with the region's leaders and trade representatives. These tariffs reflect an increasing trend toward protectionism and moving away from free trade principles and practices.

February 1999A more aggressive move toward exchange-rate unification in Tanzania would have delivered a fiscal bonus by the mid-1980s ? and unification of the exchange rate would have reduced monetary growth and inflationary pressures. From a fiscal viewpoint there was no economic rationale for gradualism in exchange-rate unification and delay of a move toward convertibility.Parallel exchange-rate markets have often been

A country's economic growth, reflected in its main indicators, acts as a generator of development
in sectors such as commerce, industry, mobility, tourism, and infrastructure. Econometric studies
allow for the quantification of interactions within this environment through data analysis and
the construction of statistical models that provide optimal solutions to the complex problems of
cities. Price elasticity of demand is an econometric measure indicating how changes in price affect
the demand for products or services. Theory indicates that demand is elastic if the price elasticity
of demand is greater than 1 and inelastic if it is less than 1. This research conducts a State of the
Art review of the principal studies related to the price elasticity of air transport demand, a
parameter that measures the effect on the quantity of tickets purchased in response to a price
variation. In the air transportation market, various investigations seek to optimally model the
relationship between the variables of price and demand, revealing a high sensitivity of elasticity
to two determining factors: the variables involved in its measurement and the methodologies
used for its determination. The findings can contribute to optimal decision-making in the pricing
of services offered by associated institutions and companies.

This study is a critical policy analysis on broadcasting reform in Ghana between 1992 and 2008 with a particular interest in critically tracking and examining the changes that occurred in broadcasting policy and regulation. Beyond the intrinsic value and relevance of policy and regulation, this study focuses on the factors and forces that are generative of the changes as occurring within the context of a defunct military regime to a more pluralistic, multi-party and open participatory democratic political system. Also, in focus are the ways in which the policy and regulatory changes occurred, the impact of the changes on the Ghanaian broadcasting system and its structures. The study not only examined and corroborated related policy and regulatory documents from primary and secondary sources but also garnered insights of policy-making "actors" interviewed. Finally, the study determines the policy and regulatory gaps in an attempt to provide recommendations for a new broadcasting policy and regulatory direction for the country. v Acknowledgement I first acknowledge Almighty ALLAH, the most Gracious, the most merciful and to whom I commit my life and soul and believe has empowered me to finally accomplish what seemed like a near impossibility having been suddenly struck with liver failure on my very first research information gathering trip to Ghana and later had to undergo a critical transplant surgery at the Wits Donald Gordon Medical Centre in Johannesburg after one and half years of hospitalization. I owe a debt of gratitude to many a person. It is difficult to acknowledge the varied assistance I received from each of them: for some it was their precious time, valuable research material, willingness and availability for personal in-depth interviews, discussions, proof reading, comments and suggestions. For others it was words of encouragement, hope and support. I reserve a special mention to my wife Barikisu, who roundly stood by me despite the odds throughout the entire research process. I also recognize the emotional support from my aunt Khadija Musah, my sister Ramatu Ahmed, my brother Rashid Amadu, and my Pro-Vice Chancellor Professor Kwesi Yankah and my trusted friend and brother Abdallah Ali Nakyea. On a more academic level, my indefatigable, energetic, and enthusiastic supervisor, the Dean of the Faculty of Humanities Professor Tawana Kupe deserves a unique mention for his incisive and constructive comments and guidance which stimulated my desire and quest for knowledge which sharpened my mind on critical thinking, analysis and problem-solving. Professor Tawana Kupe was indeed my giant and tower of academic excellence during the research and on whose shoulders the future of the broadcasting policy and regulation landscape in Ghana was clearly and unambiguously captured in this thesis for posterity as a trail blazer.

The power industry is being severely disrupted globally and local industry stakeholders have every reason to be worried. The question is how stakeholder capital should henceforth be deployed to reduce the risk of stranded assets. This study is undertaken to assess the impact of power industry disruptors on the near-term prospect of the electricity demand in the most important submarket of the Philippine power market, the greater Metro-Manila area. The emphasis is on the impact of technology disruptors, especially of solar photovoltaic generation and storage, on top of and in conjunction with policy disruptors. Part One tackles firstly the risks to sustained economic and income growth which will, in turn, impact on the demand for electricity-the macroeconomic risks, the global risks, and the policy risks; secondly the risks internal to the electricity industry itself-the technology disruptors especially coming from growing adoption of rooftop and mini-grid solar photovoltaic installations and battery storage. The challenge of solar distributed generation counsels a more sober outlook and a more inclusive portfolio diversification by centralized power generation capitalists. Part Two employs an error correction model to forecast the growth of aggregate and disaggregate (by customer types) demand in a distribution utility franchise, in this case, the Meralco franchise, over the next five years. This model can be adopted as benchmark and adapted by industry stakeholders especially other distribution utility franchises for their own forecasts which should inform the rate setting exercise between the distribution utilities and the regulator, the Energy Regulatory Commission.

Compared with other urban water systems in West because reform was based on a system already Africa, the water supply system in Abidjan performs very performing well, the contractual arrangement with a well. Documenting the recent history of that system, private operator proved exceptionally capable of Menard and Clarke try to answer three questions: What adjusting even in the face of dramatic changes in the motivated reform in a system that was already external environment. performing well? How and why did the reform affect Institutional environments are not as favorable in other sector performance, and what additional changes might countries in the region, so similar contractual improve performance further? And what explains the arrangements might be less successful elsewhere. relatively strong performance of Abidjan's water system? Reform in C6te d'Ivoire was motivated primarily by a Is the success attributable primarily to an efficient macroecoinomic crisis, which reduced the resources contractual arrangement or more generally to C6te available for public investment. Without either a sector d'Ivoire's institutional environment? crisis or a realignment of political forces, the will for In a region plagued by political instability, Ivoirian reform was weak. Consequently, opportunities for political institutions were remarkably stable for close to improvement were missed and some problems remain. 40 years. In part, the success of the Ivoirian model is the Among other ways in which the system could be result of these institutions' stability and credibility. improved: Splitting the water system into autonomous The single-party system in place at the time of reform subsystems for different cities, and allowing bidding for might suggest that there were few restraints in place to investment contracts, would increase the chances of prevent the government from behaving opportunistically. competition for investment, which does not currently But several features of the institutional environment exist. protected against such opportunism. Because of this, and This papera product of Public Economics, Development Research Groupis part of a larger effort in the group to promote competition and private sector development.

This study examines the relation among large shareholders, board independence and firm performance that can be found in most emerging markets, where ownership concentration is high, voting power is leveraged through business group affiliation, and there is a bias from the one-vote-one-...

De acordo com um conhecido precedente do Conselho Administrativo de Defesa Econômica, os atos das agências reguladoras que disciplinam o mercado têm isenção concorrencial, isto é, ao menos como regra, não configuram infração à ordem econômica nos termos do art. 36 da LDC. É a chamada doutrina da ação política (State Action Doctrine). De acordo com um segundo precedente do Cade, igualmente tenaz, a influência à adoção de conduta uniforme por sindicato ou conselho profissional, como e.g. no tabelamento impositivo de preços, é um ilícito concorrencial passível de punição.
Eis a questão curiosa. Ao contrário de sindicatos, conselhos profissionais são, como as agências reguladoras, autarquias de direito público, criadas por lei para a fiscalização do exercício profissional e, em diversos casos, para a regulação dos respectivos mercados mediante normas abstratas. Por que, então, o Cade nega aos conselhos a isenção que reconhece às agências?

President Biden’s Modernizing Regulatory Review (MRR) initiative fundamentally altered regulatory procedures, practices, and centralized oversight that had been in place since 1981 when they were formalized by President Reagan in Executive Order 12,291. MRR proceeded in three phases. First, a Memorandum issued on President Biden’s first day in office telegraphing the broad outlines of the plan. Second, more than two years later, an Executive Order codifying the MRR memorandum was issued, combined with implementation guidance issued by the Office of Management and Budget (OMB). And third, OMB guidance on the conduct of regulatory BCA was radically revised, clearly with an eye toward favoring the Administration’s policy objectives. The MRR Memorandum included both admirable and worrisome provisions—admirable, insofar as the Memo signaled a revitalized interest that regulatory BCA should include estimates of the distributional effects of regulations on recognized subpopulations of concern, such as the poor; worrisome, because MRR signaled a plan to overtly politicize regulatory BCA methods in a manner calculated to benefit the Administration’s agenda; and transformed OIRA’s role from providing White House entities independent review of agencies’ regulatory BCAs to serving as facilitators and expediters of the Administration’s agenda. In short, the MRR Initiative transformed regulatory BCA and OIRA review into policy-based evidence-making enterprises. Then Donald Trump was elected to a second, discontinuous term. Immediately, Biden executive orders building the Modernizing Regulatory Review (MRR) Initiative were revoked and agency heads were directed to remove all vestiges of it from their respective jurisdictions. The politicized 2023 revision of OMB Circular A-4 was rescinded; the 2003 version was restored; and the Biden administration’s key policy goals were terminated and generally replaced with opposite policy goals. Whether the Trump administration restored regulatory review and regulatory benefit-cost analysis, or replaced their politicization by the Biden administration with a new politicization of its own, cannot reliably be assessed at this early date. This subject will be the subject of a future analysis.

This paper seeks to analyze the regulatory framework of energy economics in the Philippines. It looks at the historical legal background of these regulations, seeking to understand how different factors contribute to the performance of the energy industry in the Philippines today. The first part provides the recent state of electricity in the Philippines, in contrast to other countries in comparatively the same circumstantial environments but with vastly different payment rates for electricity. The second part delves deeper and discusses its history, tracing the creation of landmark private industries, community cooperatives, and regulatory bodies throughout the century, up to the present day and how the current energy regulatory framework operates. It seeks to isolate the extent of influence on this particular variable that regulatory frameworks exert. Lastly, the final part dissects the Philippine regulatory framework, applying standards and concepts for efficiency in regulation a...

Since the late 1990s, labor productivity (total output per hour worked) growth has slowed markedly for many of the world’s largest economies. Using a micro-level dataset of firms in OECD member countries, OECD researchers Dan Andrews, Chiara Criscuolo, and Peter Gal decompose the slowdown and show that the top (“frontier”) firms have continued seeing productivity increases while the others (the “laggards”) haven’t, contributing to a growing productivity divergence between the top and the bottom.

European policymakers have argued that Europe needs "massive private investments" (see ECB (2024a)) to advance the climate agenda and generate higher productivity and competitiveness. While equity markets can provide EU corporates with some risk capacity to invest more, it will be for debt markets to finance the bulk of the needed investment. European banks, as key intermediators of surplus funds from European and international savers, could alleviate this pressure if they were able to create more lending headroom by transferring risks through securitisation. By doing this, they would generate 'capital velocity', by which we mean that securitisation permits a bank to deploy its risk capacity more than once. Covered Bonds (CBs) are no substitute for securitisation in this regard because the credit risk of the loan pool covered by a CB remains on the issuing bank's balance sheet and, hence, no additional capacity to make new loans is generated. Boosting securitisation would require some relatively small, though judiciously chosen, adjustments, aimed at aligning regulatory rules with actual risk. In this regard, we (i) propose a key change in regulations that would bring capital requirements for senior securitisation tranches in line with risk, namely the introduction of a risk-sensitive risk weight floor, (ii) suggest changes in governance arrangements to ensure an effective implementation of the regulatory framework that could reduce unintended and unforeseen consequences of new rules and (iii) put forward new approaches, including streamlining and unifying some aspects of securitisation supervision under the coordination of one of the ESAs.

The cross-border economic relationship experienced by Malaysia has seen continuous growth over the years, with China emerging as Malaysia's largest trading and business partner, as well as a significant source of foreign direct investment. However, this relationship has not been without its share of challenges and issues in the aspect of cross-border business, trade, and the formation and execution of commercial contracts and agreements between the involved parties. To ensure a comprehensive approach to compliance in cross-border commercial relationships, it is imperative to have effective dispute resolution mechanisms in place. Alternative dispute resolution (ADR) mechanisms, including negotiation, mediation, arbitration, online dispute resolution, and expert determination, can serve as valuable tools to address contractual issues and overcome legal comprehension challenges. These challenges often arise due to language barriers, cultural differences, and the existence of varying legal systems within the historical and contemporary legal norms and developments of both jurisdictions, which encompass civil and common law traditions. By employing these mechanisms, parties can find cost-effective, efficient, and flexible ways to resolve conflicts while preserving the long-term cross-border business relationships between two distinct legal environments. Alternative dispute resolution mechanisms hold the potential to enhance business, trade, and commercial interactions at various levels, encompassing both public and private ventures. Consequently, they can significantly improve cross-border compliance and contribute to creating a more stable and conducive business environment. By utilizing ADR methods, parties can navigate and resolve commercial and business disputes, thereby upholding the integrity of bilateral business arrangements and fostering enduring commercial interests over time. Embracing ADR mechanisms can serve as a means for China and Malaysia to fortify their trade and business partnerships and cultivate a more stable and holistic business environment, not only within the ASEAN region but also on a global scale.

This article argues that dispute processing reform, such as regulatory negotiation, plays a role in constructing a “crisis” in regulatory litigation and defining a new partnership between regulated interests and the state. Unlike traditional studies of regulatory reform, which tend to evaluate the behavioral impact of legal reform on policy, I argue that reforms themselves play a constitutive role in politics. The article examines the ideology of regulatory negotiation and presents empirical data on federal regulatory litigation in the U.S. Courts of Appeals (1940–1985), to demonstrate that this legal reform is part of a general drive toward a minimalist state.

Regulation and its reform are now prominent themes in American politics. Despite their often technical character, regulatory reform programs successfully deploy a stirring set of political symbols and shibboleths. "Get the government off our backs," "eliminate waste," and "restore free enterprise" are appeals as visceral and irresistible as any in our political lexicon. Regulatory reform has become a hardy American perennial, the public policy equivalent of motherhood and apple pie. The regulatory reform movement, however, has not enjoyed the same degree of success in developing countries as it has in the United States. The political traditions, legal institutions, cultural values, and economic forces that shape regulatory policy in developing countries differ vastly from their American counterparts. Daily life in many Third World 1 states is more communitarian and less individualistic than life in the United States, and pervasive regulation is often a key instrument of national policy, strengthening the dominance of large state-run and private corporations. Regulation is endorsed by the Left on ideological grounds, by government bureaucracies in order to retain their power and patronage, and by many on the Right as a way to maintain a secure, stable economic environment. Government regulation of economic activity has thus enjoyed an entrenched status in the Third World that is almost inconceivable in the United States, given our volatile, competitive political system and market-oriented economic principles.' Today, however, the privileged position of governmental regulation is t Simeon E. Baldwin Professor of Law, Yale Law School. it Senior Fellow, Economics Studies Program of the Brookings Institution, Counsel to the Wash- ington, D.C. office of Powell, Goldstein, Frazer & Murphy, and Visiting Lecturer, Yale Law School. Both authors have also been consultants to the Institute for Liberty and Democracy in Lima, Peru, the organization that is the focus of much of this Article. Portions of the Article draw on unpublished memoranda and materials that the authors prepared or obtained while in Peru, and on other working manuscripts. These materials are on file with the Yale Journal on Regulation. 1. We use the term "Third World" throughout this Article only to draw an inevitably crude socio-economic distinction; perhaps "developing nations" would have served as well. This usage is not meant to refer to political or ideological groupings. 2. This is not to deny that a powerful pro-regulation impulse exists in the United States and will survive the current administration's efforts to subdue it.

Why regulate food advertising to children? 2. How is food advertising to children currently regulated in the UK? 3. Is the regulatory framework good enough and how could it be reformed? Recommendations for advertising WHO Recommendations to restrict the power of advertising and limit children's exposure to unhealthy promotion … Joined by International Human Rights advocates 'Principles of good regulation' and theoretical scholarship of regulation were used to analyse the strengths and weaknesses of current regulation and suggest ways to reform. (J Black, 'Constructing and contesting legitimacy and accountability in polycentric regulatory regimes' (2008) Regulation and Governance 144.) Theoretical approaches 'Regulatory space' Emphasises the importance of the large firm in regulation and blurring of lines between public and private… …groups and issues can be excluded from the regulatory space… …Labels (i.e. self-regulation) less important than who is involved and what processes are part of regulation.

A large literature in strategy and management has focused on why firms self-regulate and "signal green." We show this decision becomes more complex when regulators have enforcement discretion, and both firms and regulators act strategically. We model the managerial decision whether to signal the firm's type through substantial self-regulation, or whether to stay in step with the rest of the industry through modest levels of self-regulation. Self-regulation is a double-edged sword: it can potentially preempt legislation, but it can also lead regulators to demand higher levels of compliance from greener firms if preemption fails. We show how self-regulatory decisions depend upon industry characteristics and political responsiveness to corporate environmental leadership.

Any mention of regulatory reform brings to mind previous legislative efforts that improved performance in the airline, trucking, and telecommunications industries. The recently enacted postal-reform legislation is a disappointment, however, not only by these standards, but also by almost any other. The U.S. General Accounting Office, the American Enterprise Institute, the Cato Institute, and a handful of market-oriented independent scholars have published many copious volumes over the years detailing the need for extensive reform of the U.S. Postal Service. The need arises from two concerns. The first flows from conventional economic theory, which argues that a government-operated virtual monopoly that is partly de jure, partly de facto, and almost certainly not “natural” underserves the country owing to its high costs, bland offerings, and comparatively middling service. The argument draws comparisons with private delivery firms such as United Parcel Service (UPS) and Federal Expre...

Canada's domestic airline industry is marked by limited competition, high fares, and inadequate service to remote regions. Dominated by a small number of carriers and constrained by foreign ownership restrictions, the current regulatory framework fails to deliver eDicient or equitable air connectivity. This paper proposes a two-pronged reform: first, liberalize Canada's airline market to permit greater foreign ownership and domestic operations by international carriers; second, introduce a tradable permit system to ensure continued service to underserved destinations. Under this system, all airlines would be assigned service obligations, which they could fulfill directly or oDset by purchasing credits from carriers operating in underserved markets. Drawing on successful precedents from environmental policy and broadcasting regulation, the model incentivizes socially valuable service through market mechanisms. The paper outlines the theoretical rationale, operational design, expected impacts, and implementation roadmap of this policy innovation. It argues that such a system can reconcile the goals of competition, connectivity, and fiscal eDiciency-oDering a transformative solution to Canada's aviation challenges.

This essay critically reviews the Constitutional Court (MK) ruling on Law Number 11 of 2020 on Job Creation. This law was made with the aim of simplifying regulations and improving the investment climate in order to boost national economic growth. This decision has actually caused ambiguity and multiple interpretations, both in the realm of law and the practice of implementation, thus triggering legal uncertainty and public unrest. Through a philosophical approach, especially the philosophy of language, logic, and truth theory, this essay dissects the contradictions in the Constitutional Court's decision, its impact on society, and the solutions offered to strengthen justice, transparency, and legal certainty in Indonesia. This essay invites readers to think critically about state policy and the role of law in maintaining democracy.

มาตรฐานสากลฉบับนี้ระบุข้อกำหนดสำหรับระบบการบริหารงานคุณภาพเกี่ยวกับเครื่องมือแพทย์ รวมถึงการออกแบบและพัฒนา การผลิต การจัดเก็บและการกระจาย การติดตั้ง การบริการ และการยกเลิกการใช้งานและการกำจัดขั้นสุดท้ายของเครื่องมือแพทย์ และการออกแบบและพัฒนา หรือการให้บริการกิจกรรมที่เกี่ยวข้อง (เช่น การสนับสนุนทางเทคนิค)

This essay critically reviews the Constitutional Court (MK) ruling on Law Number 11 of 2020 on Job Creation. This law was made with the aim of simplifying regulations and improving the investment climate in order to boost national economic growth. This decision has actually caused ambiguity and multiple interpretations, both in the realm of law and the practice of implementation, thus triggering legal uncertainty and public unrest. Through a philosophical approach, especially the philosophy of language, logic, and truth theory, this essay dissects the contradictions in the Constitutional Court's decision, its impact on society, and the solutions offered to strengthen justice, transparency, and legal certainty in Indonesia. This essay invites readers to think critically about state policy and the role of law in maintaining democracy.

This essay critically reviews the Constitutional Court (MK) ruling on Law Number 11 of 2020 on Job Creation. This law was made with the aim of simplifying regulations and improving the investment climate in order to boost national economic growth. This decision has actually caused ambiguity and multiple interpretations, both in the realm of law and the practice of implementation, thus triggering legal uncertainty and public unrest. Through a philosophical approach, especially the philosophy of language, logic, and truth theory, this essay dissects the contradictions in the Constitutional Court's decision, its impact on society, and the solutions offered to strengthen justice, transparency, and legal certainty in Indonesia. This essay invites readers to think critically about state policy and the role of law in maintaining democracy.

This essay critically reviews the Constitutional Court (MK) ruling on Law Number 11 of 2020 on Job Creation. This law was made with the aim of simplifying regulations and improving the investment climate in order to boost national economic growth. This decision has actually caused ambiguity and multiple interpretations, both in the realm of law and the practice of implementation, thus triggering legal uncertainty and public unrest. Through a philosophical approach, especially the philosophy of language, logic, and truth theory, this essay dissects the contradictions in the Constitutional Court's decision, its impact on society, and the solutions offered to strengthen justice, transparency, and legal certainty in Indonesia. This essay invites readers to think critically about state policy and the role of law in maintaining democracy.

This essay critically reviews the Constitutional Court (MK) ruling on Law Number 11 of 2020 on Job Creation. This law was made with the aim of simplifying regulations and improving the investment climate in order to boost national economic growth. This decision has actually caused ambiguity and multiple interpretations, both in the realm of law and the practice of implementation, thus triggering legal uncertainty and public unrest. Through a philosophical approach, especially the philosophy of language, logic, and truth theory, this essay dissects the contradictions in the Constitutional Court's decision, its impact on society, and the solutions offered to strengthen justice, transparency, and legal certainty in Indonesia. This essay invites readers to think critically about state policy and the role of law in maintaining democracy.

UU ini dibuat dengan tujuan menyederhanakan regulasi dan meningkatkan iklim investasi demi mendongkrak pertumbuhan ekonomi nasional. Disamping tujuan positif UU Cipta Kerja, terdapat didalamnya ambiguitas isi pasal yang tertuang dalam undang-undang tersebut. Kasus ini memiliki kecacatan dalam proses pembentukannya, sehingga menimbulkan ambiguitas yang menyebabkan multitafsir. Putusan Mahkamah Konstitusi (MK) tentang Undang-Undang Cipta Kerja menjadi perhatian publik karena mengandung kontradiksi yang menarik untuk dipelajari melalui pendekatan filsafat, terutama di bidang bahasa dan logika. Dalam keputusannya, MK menyatakan bahwa UU Cipta Kerja secara formil cacat dan oleh karena itu tidak konstitusional. Namun, MK memberikan izin untuk undang-undang tersebut tetap berlaku selama dua tahun untuk waktu perbaikan. Ini menimbulkan kontradiksi dari sudut pandang logika. Sebab, dalam logika formal, jika sesuatu dinyatakan sebagai inkonstitusional, maka itu tidak sah secara hukum dan tidak dapat diberlakukan. Menegaskan bahwa sesuatu itu tidak konstitusional tetapi masih berlaku menghasilkan dua proposisi yang saling bertentangan tetapi dilakukan sekaligus. Istilah "inkonstitusional bersyarat" sendiri merupakan gabungan dari dua ide yang bertentangan, dan tanpa penjelasan yang jelas, frasa ini membuat orang bingung secara semantik. Untuk menghindari interpretasi yang tidak konsisten, bahasa hukum idealnya harus memiliki satu makna dan kepastian. Selain itu, istilah seperti "kebijakan strategis dan berdampak luas" dan "peraturan pelaksana baru" tidak dijelaskan secara menyeluruh dalam keputusan MK, sehingga pihak-pihak berkepentingan dapat menafsirkannya dengan salah. Ini adalah jenis fallacy of ambiguity dalam logika yang menyebabkan kekeliruan karena arti yang tidak jelas. Selain itu, proses legislasi UU Cipta Kerja sendiri dikritik karena kurangnya partisipasi publik yang signifikan. Dalam kenyataannya, proses tersebut lebih bersifat simbolik daripada resmi dilibatkan oleh publik. Dalam filsafat bahasa, penggunaan bahasa seremonial dalam naskah atau rapat legislatif ini dapat dianggap sebagai bentuk manipulasi makna yang berfungsi untuk menyembunyikan proses yang tidak demokratis yang sebenarnya. Melalui esai ini, pembaca diajak untuk memahami secara lebih jelas bagaimana proses lahirnya UU Cipta Kerja, mengapa putusan Mahkamah Konstitusi terhadap undang-undang ini memicu banyak tafsir, serta apa dampaknya terhadap kehidupan masyarakat dan kepastian hukum di Indonesia. Dengan membaca dan menyimak esai ini, kita bisa lebih kritis dalam menilai kebijakan negara dan ikut mendorong terciptanya hukum yang adil dan berpihak pada rakyat. Undang-Undang Nomor 11 Tahun 2020 tentang Cipta Kerja, yang lebih dikenal sebagai UU Cipta Kerja, merupakan undang-undang yang disusun dengan metode Omnibus Law, yaitu teknik legislasi yang menggabungkan dan merevisi banyak undang-undang sekaligus dalam satu regulasi terpadu. Tujuan utama dari UU ini adalah untuk menyederhanakan regulasi, mempercepat proses perizinan, dan menciptakan iklim investasi yang lebih kondusif, sehingga diharapkan dapat mendorong pertumbuhan ekonomi dan menciptakan lapangan kerja baru. UU Cipta Kerja mengubah, menghapus, dan menetapkan ketentuan dari lebih dari 70 undang-undang yang sebelumnya berdiri sendiri, termasuk di bidang ketenagakerjaan, lingkungan hidup, perpajakan, perizinan usaha, dan tata ruang. Metode yang digunakan dalam menyusun UU Cipta Kerja adalah metode Omnibus Law. Omnibus Law merupakan sebuah metode pembuatan regulasi yang di dalamnya menghimpun beberapa aturan yang berbeda tetapi memiliki maksud dan tujuan yang searah yang tergabung dalam satu paket hukum. Latar belakang munculnya ide Omnibus Law berawal dari berbagai hambatan yang menyulitkan proses investasi di Indonesia, hambatan tersebut meliputi rumitnya proses perizinan, sistem perpajakan yang tidak efisien, persoalan dalam pengadaan lahan, serta berbagai aspek lainnya yang menghambat masuknya investor . Oleh karena itu, hadirnya Omnibus Law diharapkan dapat menyederhanakan regulasi dan menciptakan iklim investasi yang lebih ramah. Investasi sendiri memiliki banyak manfaat bagi negara, antara lain: (1) menyediakan tambahan modal untuk pembangunan infrastruktur, (2) menciptakan lapangan kerja baru, (3) mendorong kemajuan di berbagai sektor, (4) meningkatkan penerimaan negara, dan (5) memperkuat perlindungan serta stabilitas ekonomi nasional. Ambiguitas adalah frasa yang memiliki makna berbeda dan didefinisikan secara eksplisit yang menyebabkan kesalahpahaman informasi yang diterima, Sedangkan multitafsir memiliki arti dimana informasi ditangkap secara berbeda yang menghasilkan dua makna dari informasi yang diterima. Undang-Undang pemerintahan yang dibuat memiliki kewajiban bahwa di dalamnya berisi makna yang jelas serta implementasi yang sesuai dengan apa yang diperlukan dalam kondisi tertentu.

This essay critically reviews the Constitutional Court (MK) ruling on Law Number 11 of 2020 on Job Creation. This law was made with the aim of simplifying regulations and improving the investment climate in order to boost national economic growth. This decision has actually caused ambiguity and multiple interpretations, both in the realm of law and the practice of implementation, thus triggering legal uncertainty and public unrest. Through a philosophical approach, especially the philosophy of language, logic, and truth theory, this essay dissects the contradictions in the Constitutional Court's decision, its impact on society, and the solutions offered to strengthen justice, transparency, and legal certainty in Indonesia. This essay invites readers to think critically about state policy and the role of law in maintaining democracy.

This essay critically reviews the Constitutional Court (MK) ruling on Law Number 11 of 2020 on Job Creation. This law was made with the aim of simplifying regulations and improving the investment climate in order to boost national economic growth. This decision has actually caused ambiguity and multiple interpretations, both in the realm of law and the practice of implementation, thus triggering legal uncertainty and public unrest. Through a philosophical approach, especially the philosophy of language, logic, and truth theory, this essay dissects the contradictions in the Constitutional Court's decision, its impact on society, and the solutions offered to strengthen justice, transparency, and legal certainty in Indonesia. This essay invites readers to think critically about state policy and the role of law in maintaining democracy.

This essay critically reviews the Constitutional Court (MK) ruling on Law Number 11 of 2020 on Job Creation. This law was made with the aim of simplifying regulations and improving the investment climate in order to boost national economic growth. This decision has actually caused ambiguity and multiple interpretations, both in the realm of law and the practice of implementation, thus triggering legal uncertainty and public unrest. Through a philosophical approach, especially the philosophy of language, logic, and truth theory, this essay dissects the contradictions in the Constitutional Court's decision, its impact on society, and the solutions offered to strengthen justice, transparency, and legal certainty in Indonesia. This essay invites readers to think critically about state policy and the role of law in maintaining democracy.

UU ini dibuat dengan tujuan menyederhanakan regulasi dan meningkatkan iklim investasi demi mendongkrak pertumbuhan ekonomi nasional. Disamping tujuan positif UU Cipta Kerja, terdapat didalamnya ambiguitas isi pasal yang tertuang dalam undang-undang tersebut. Kasus ini memiliki kecacatan dalam proses pembentukannya, sehingga menimbulkan ambiguitas yang menyebabkan multitafsir. Putusan Mahkamah Konstitusi (MK) tentang Undang-Undang Cipta Kerja menjadi perhatian publik karena mengandung kontradiksi yang menarik untuk dipelajari melalui pendekatan filsafat, terutama di bidang bahasa dan logika. Dalam keputusannya, MK menyatakan bahwa UU Cipta Kerja secara formil cacat dan oleh karena itu tidak konstitusional. Namun, MK memberikan izin untuk undang-undang tersebut tetap berlaku selama dua tahun untuk waktu perbaikan. Ini menimbulkan kontradiksi dari sudut pandang logika. Sebab, dalam logika formal, jika sesuatu dinyatakan sebagai inkonstitusional, maka itu tidak sah secara hukum dan tidak dapat diberlakukan. Menegaskan bahwa sesuatu itu tidak konstitusional tetapi masih berlaku menghasilkan dua proposisi yang saling bertentangan tetapi dilakukan sekaligus. Istilah "inkonstitusional bersyarat" sendiri merupakan gabungan dari dua ide yang bertentangan, dan tanpa penjelasan yang jelas, frasa ini membuat orang bingung secara semantik. Untuk menghindari interpretasi yang tidak konsisten, bahasa hukum idealnya harus memiliki satu makna dan kepastian. Selain itu, istilah seperti "kebijakan strategis dan berdampak luas" dan "peraturan pelaksana baru" tidak dijelaskan secara menyeluruh dalam keputusan MK, sehingga pihak-pihak berkepentingan dapat menafsirkannya dengan salah. Ini adalah jenis fallacy of ambiguity dalam logika yang menyebabkan kekeliruan karena arti yang tidak jelas. Selain itu, proses legislasi UU Cipta Kerja sendiri dikritik karena kurangnya partisipasi publik yang signifikan. Dalam kenyataannya, proses tersebut lebih bersifat simbolik daripada resmi dilibatkan oleh publik. Dalam filsafat bahasa, penggunaan bahasa seremonial dalam naskah atau rapat legislatif ini dapat dianggap sebagai bentuk manipulasi makna yang berfungsi untuk menyembunyikan proses yang tidak demokratis yang sebenarnya. Melalui esai ini, pembaca diajak untuk memahami secara lebih jelas bagaimana proses lahirnya UU Cipta Kerja, mengapa putusan Mahkamah Konstitusi terhadap undang-undang ini memicu banyak tafsir, serta apa dampaknya terhadap kehidupan masyarakat dan kepastian hukum di Indonesia. Dengan membaca dan menyimak esai ini, kita bisa lebih kritis dalam menilai kebijakan negara dan ikut mendorong terciptanya hukum yang adil dan berpihak pada rakyat. Undang-Undang Nomor 11 Tahun 2020 tentang Cipta Kerja, yang lebih dikenal sebagai UU Cipta Kerja, merupakan undang-undang yang disusun dengan metode Omnibus Law, yaitu teknik legislasi yang menggabungkan dan merevisi banyak undang-undang sekaligus dalam satu regulasi terpadu. Tujuan utama dari UU ini adalah untuk menyederhanakan regulasi, mempercepat proses perizinan, dan menciptakan iklim investasi yang lebih kondusif, sehingga diharapkan dapat mendorong pertumbuhan ekonomi dan menciptakan lapangan kerja baru. UU Cipta Kerja mengubah, menghapus, dan menetapkan ketentuan dari lebih dari 70 undang-undang yang sebelumnya berdiri sendiri, termasuk di bidang ketenagakerjaan, lingkungan hidup, perpajakan, perizinan usaha, dan tata ruang. Metode yang digunakan dalam menyusun UU Cipta Kerja adalah metode Omnibus Law. Omnibus Law merupakan sebuah metode pembuatan regulasi yang di dalamnya menghimpun beberapa aturan yang berbeda tetapi memiliki maksud dan tujuan yang searah yang tergabung dalam satu paket hukum. Latar belakang munculnya ide Omnibus Law berawal dari berbagai hambatan yang menyulitkan proses investasi di Indonesia, hambatan tersebut meliputi rumitnya proses perizinan, sistem perpajakan yang tidak efisien, persoalan dalam pengadaan lahan, serta berbagai aspek lainnya yang menghambat masuknya investor . Oleh karena itu, hadirnya Omnibus Law diharapkan dapat menyederhanakan regulasi dan menciptakan iklim investasi yang lebih ramah. Investasi sendiri memiliki banyak manfaat bagi negara, antara lain: (1) menyediakan tambahan modal untuk pembangunan infrastruktur, (2) menciptakan lapangan kerja baru, (3) mendorong kemajuan di berbagai sektor, (4) meningkatkan penerimaan negara, dan (5) memperkuat perlindungan serta stabilitas ekonomi nasional. Ambiguitas adalah frasa yang memiliki makna berbeda dan didefinisikan secara eksplisit yang menyebabkan kesalahpahaman informasi yang diterima, Sedangkan multitafsir memiliki arti dimana informasi ditangkap secara berbeda yang menghasilkan dua makna dari informasi yang diterima. Undang-Undang pemerintahan yang dibuat memiliki kewajiban bahwa di dalamnya berisi makna yang jelas serta implementasi yang sesuai dengan apa yang diperlukan dalam kondisi tertentu.

This essay critically reviews the Constitutional Court (MK) ruling on Law Number 11 of 2020 on Job Creation. This law was made with the aim of
simplifying regulations and improving the investment climate in order to boost national economic growth. This decision has actually caused ambiguity and multiple interpretations, both in the realm of law and the practice of implementation, thus triggering legal uncertainty and public unrest. Through a philosophical approach, especially the philosophy of language, logic, and truth theory, this essay dissects the contradictions in the Constitutional Court's decision, its impact on society, and the solutions offered to strengthen justice, transparency, and legal certainty in Indonesia. This essay invites readers to think critically about state policy and the role of law in maintaining democracy.

Mr Speaker, New Zealand friends, Commonwealth colleagues, thank you for this opportunity to participate in this conference. I was a brand new MP when the last commonwealth delegated legislation conference was held. Yesterday, Senator Bill O'Chee described me as a 'hardy veteran' in this field. As a result of my eight years experience in this field, I feel passionate about the need to provide good scrutiny regimes to protect the human and civil rights of the community. I have travelled widely and proselytised about the benefits of and best mechanisms for parliamentary scrutiny. 1 The paper I offer touches upon new challenges in the field.

The Belgian Criminal Code underwent significant reform with regard to sexual offences by the Law of 21 March 2022. Concerning the prostitution of people who are of legal age, the legislator has abandoned the abolitionist model and laid the foundations for a neo-regulatory model. Criminal sanctions are now based on the idea that prostitution should be able to be practised effectively, provided that the person offering his or her sexual services does so entirely voluntarily. Accordingly, the Law of 21 March 2022 enshrines the principle of authorising prostitution procurement -subject to certain conditions that have yet to be defined. It also makes it possible, by way of exception, to advertise prostitution. At the same time, the Criminal Code provides for measures to severely punish activities related to forced prostitution or to limit the commission of such offences. Nevertheless, the transition to the neo-regulatory model is not (yet) complete and some questions remain concerning, among other things, the respect by Belgium of its international obligations and the implementation of the new rules.

This study explores bank loan officers ’ perceptions of audit firm rotation using a between-subjects case scenario. We address general issues of rotation and specific aspects of rotation, including the impact of rotation versus no rotation on perceptions of auditor independence and audit quality. Findings indicate that bank loan officers perceive that there is a greater perception of auditor independence and likelihood that errors discovered by the auditors will be reported when a company follows a rotation policy versus when there is no rotation policy.

This study explores bank loan officers' perceptions of audit firm rotation using a between-subjects case scenario. We address general issues of rotation and specific aspects of rotation, including the impact of rotation versus no rotation on perceptions of auditor independence and audit quality. Findings indicate that bank loan officers perceive that there is a greater perception of auditor independence and likelihood that errors discovered by the auditors will be reported when a company follows a rotation policy versus when there is no rotation policy.

Who Needs Paper Anymore?: Rationalizing an Allocation of Government Responsib... Poonam Puri; Gil Lan Banking & Finance Law Review; Oct 2007; 23, 1; ABMNFORM Global Pg-! Who Needs Paper Anymore?: Rationalizing an Allocation of Government Responsibility for the ...

The cross-border economic relationship experienced by Malaysia has seen continuous growth over the years, with China emerging as Malaysia's largest trading and business partner, as well as a significant source of foreign directinvestment. However, this relationship has not been without its share of challenges and issues in the realm of cross-border business, trade, and the formation and execution of commercial contracts and agreements between the involved parties. To ensure a comprehensive approach to compliance in cross-border commercial relationships, it is imperative to have effective dispute resolution mechanisms in place.
Alternative dispute resolution (ADR) mechanisms, including negotiation, mediation, arbitration, online dispute resolution, and expert determination, can serve as valuable tools to address contractual issues and overcome legal comprehension challenges. These challenges often arise due to language barriers, cultural differences, and the existence of varying legal systems within the historical and contemporary legal norms and developments of both jurisdictions, which encompass civil and common law traditions. By employing these mechanisms, parties can find cost-effective, efficient, and flexible ways to resolve conflicts while preserving the long-term cross-border business relationships between two distinct legal environments.
Alternative dispute resolution mechanisms hold the potential to enhance business, trade, and commercial interactions at various levels, encompassing both public and private ventures. Consequently, they can significantly improve cross-border compliance and contribute to creating a more stable and conducive business environment. By utilizing ADR methods, parties can navigate and resolve commercial and business disputes, thereby upholding the integrity of bilateral business arrangements and fostering enduring commercial interests over time.
Embracing ADR mechanisms can serve as a means for China and Malaysia to fortify their trade and business partnerships and cultivate a more stable and holistic business environment, not only within the ASEAN region but also on a global scale.
Keywords: Cross-border commercial relationship, Alternative dispute resolution (ADR), Compliance, China, Malaysia