<abstract xmlns="http://www.w3.org/1999/xhtml"><p>The article discusses the status and role of regulatory bodies and the aftermaths of their independence and accountability to the public and the parliament. The author analyses different legal statuses of regulatory bodies in Montenegro and Serbia in the central banking and energy sectors and concludes that it is necessary that national constitutions, as the highest legal acts in each state, prescribe in a separate article that “Regulatory bodies are independent and accountable to Parliament”.</p><p>Relevant separate legal acts should closely define the procedures for establishing, enforcing, and sanctioning of possible breaching of: 1) independence of regulatory bodies, 2) accountability of regulatory bodies to the parliament, and 3) transparency of their activities.</p></abstract>

The article discusses the status and role of regulatory bodies and the aftermaths of their independence and accountability to the public and the parliament. The author analyses different legal statuses of regulatory bodies in Montenegro and Serbia in the central banking and energy sectors and concludes that it is necessary that national constitutions, as the highest legal acts in each state, prescribe in a separate article that “Regulatory bodies are independent and accountable to Parliament”.Relevant separate legal acts should closely define the procedures for establishing, enforcing, and sanctioning of possible breaching of: 1) independence of regulatory bodies, 2) accountability of regulatory bodies to the parliament, and 3) transparency of their activities.

Role of Regulatory Bodies in the Banking and Energy Sectors

Faculty of Economics, University of Belgrade

Journal of Central Banking Theory and Practice

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

{"article-title":"Role of Regulatory Bodies in the Banking and Energy Sectors"}

The article discusses the status and role of regulatory bodies and the aftermaths of their independence and accountability to the public and the parliament....

Role of Regulatory Bodies in the Banking and Energy Sectors

Published Online: Jan 26, 2016

Page range: 5 - 23

DOI: https://doi.org/10.1515/jcbtp-2016-0001

Keywords
institutions, good governance, public sector, public services, regulation, regulatory bodies, independence, accountability

© 2016 Central Bank of Montenegro

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Role of Regulatory Bodies in the Banking and Energy Sectors

Published Online: Jan 26, 2016

Page range: 5 - 23

DOI: https://doi.org/10.1515/jcbtp-2016-0001

Keywordsinstitutions, good governance, public sector, public services, regulation, regulatory bodies, independence, accountability

© 2016 Central Bank of Montenegro

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
institutions, good governance, public sector, public services, regulation, regulatory bodies, independence, accountability