Risk-Based Regulation
/ˈrɪsk beɪst ˌrɛɡjəˈleɪʃən/
Definitions
- (n.) A regulatory approach prioritizing oversight and resource allocation based on the assessed risk levels of entities or activities.
The agency adopted risk-based regulation to focus inspections on industries with higher likelihood of non-compliance.
Forms
- risk-based regulation
Related terms
See also
Commentary
Risk-based regulation emphasizes efficiency by aligning regulatory efforts with the magnitude and probability of potential harm, thus requiring careful risk assessment and management.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.