By-Products and Unintended Consequences of Professional Regulation

  • 06 Apr 2100
  • Virtual - view recording at your desktop

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Professional regulation generally begins with a very noble intent - introduction of a framework to protect the public. All too often, those involved in creating the actual regulations may not have the same noble intent or motives that were initially voiced by those who sought its creation. The public interest gets balanced with political perspectives, mixed with labour economics and influenced by biased professionals. The result can be a compromise intended to satisfy a broad range of interests. Unfortunately, these compromises result in by-products and unintended consequences that economists and others regard as adverse. These include higher costs to consumers, higher unemployment, protectionist attitudes within professions, etc. This webinar will examine regulation from the perspective of risk management and suggest that such impacts, while unintended, are unavoidable. While regulation can never eliminate risk, does the resultant risk reduction make the unintended adverse impacts tolerable? How does the regulator deal with the criticisms arising from these by-products?



Presenter:

Bruce G. Matthews, Deputy Registrar, Regulatory Compliance, Real Estate Council of Ontario
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