11/12/21
Does not mean:
• “Separate and Apart From” • “Free of Constraints” • “Unaccountable for its Acts & Decisions”
“Independent”
It Means:
• Reasonably Insulated from Political Interference with its Decision making Processes in the Implementation and Enforcement of Civil Regulatory Law.
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Why is Independence Important?
To regulate effectively, the regulator must apply the law to facts on the basis of legal and regulatory policy considerations in much the same way as a judicial body operates, but for the purpose of achieving the regulatory objective: Enforcing Compliance with the Law
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