zlacker

> In rules-based regulation, all the rules are spelled out in advance, and the regulator is basically an automaton once the rules are set.

Given that description, after a couple decades working in some and dealing daily with the acts of other agencies who which issue and apply regulations on the US, let me assure you that the regulatory system in the US is nothing at all like “rule-based” as you have described it.

>>dragon+(OP)
I have also been extensively involved in compliance issues at US companies in the financial space and this comment is dead-on. The idea of rule-based regulations is a complete straw man as far as I can tell.