1.   The regulators are not left with a free hand as the rules will still have to satisfy statutory purposes, a central part of which is investor protection.

2.   It also suggests that such trading can be hard to police, leaving regulators with few ways to track who is making profits from questionable trading activity.

3.   So regulators were left again with little more to do than urge bankers not to give the car keys to joy riders.

4.   That could leave regulators in a bind.

5.   The freeze would delay competition in local phone markets, they said, leaving state regulators with the job of refereeing local phone competition without a guidebook.

6.   The fast footwork left Swiss regulators to ponder a dizzying new line-up.

7.   But allowing in foreign programing also has left regulators wondering how much, and how fast, South Korea should open its doors to other cultures.