1.   It involved a gradual transition to a regulated market.

2.   We do not know what a lightly regulated market will bring.

3.   Abuses, arguably the more serious problems, occur in other small stocks that trade on the more regulated NASD markets.

4.   For example, Congress is considering forcing all energy trading into regulated markets, which could push those operations to New York or London.

5.   In a regulated market, the state sets prices high enough for private companies to cover their costs and earn a guaranteed profit for their investors.

6.   Japanese carriers are already being pummeled by the strong yen and high costs resulting from years of operating in a highly regulated home market.

7.   Many of these airlines are saddled with costs left over from the days of regulated markets.

8.   One deception perpetuated by scam artists is to make investors think they are operating in a highly regulated market, Goldsmith said.

9.   Refiners of oil in regulated markets, both stand to gain from rapid growth in Asian petroleum demand and from their limited exposure to falling refining profits.

10.   Seven U.K. regional electricity companies have been bought in the last two years by U.S. power companies seeking to expand into the less regulated U.K. market.