Explain the role of the regulatory justice system in fighting white-collar crime.

Question

What will be an ideal response?

Answer 1

Answers will vary. Although most white-collar crimes cause harm, these harms are not necessarily covered by criminal statutes. Indeed, more often they are covered by administrative laws. Such laws make up the backbone of the U.S. regulatory system, through which the government attempts to control the actions of individuals, corporations, and other institutions. The goal of regulation is not prevention or punishment as much as compliance, or the following of regulatory guidelines.The U.S. Consumer Product Safety Commission (CPSC)-which protects the public from unreasonable risks of injury or death associated with consumer products-is one of the federal administrative agencies whose compliance oversight brings them into contact with white-collar crime. Other important federal regulatory agencies with regard to white-collar crime include the following:1. The Environmental Protection Agency (EPA), which regulates air quality, water quality, and toxic waste.2. The Food and Drug Administration (FDA), which protects public health by regulating food products and a wide variety of drugs and medical practices.3. The Occupational Safety and Health Administration (OSHA), which enforces workplace health and safety standards.4. The Securities and Exchange Commission (SEC), which ensures that financial markets such as the New York Stock Exchange operate in a fair manner.