1.   Anyone who imagines that any regulatory system can invariably guarantee success is naive.

2.   From this viewpoint, we have to modify our analysis of the regulatory system in certain ways.

3.   It attacks the fundamental flaws and loopholes in the campaign finance regulatory system adopted in the wake of the Watergate scandal.

4.   It considers that this move is in line with the policy of simplifying the regulatory system.

5.   It will provide a national regulatory system and a regulatory body to replace those of individual cantons.

6.   The directive will require mutual recognition of the various regulatory systems, and lay down general principles for national supervisors.

7.   Similar concerns exist over the regulatory systems of control for financial services.

8.   The common law can develop in an evolutionary way in the light of the experience developed in the regulatory system.

9.   It was an arduous process which became tangled in its own complexity leaving juries baffled and the legal and financial regulatory systems exposed.

10.   In analysing the regulatory system it is probably useful to divide the concept of investor protection into the two broad categorisations as used by Gower -- honesty and competence.