Commercial regulation is on the move. Privatisation, started in earnest by the Conservatives but as eagerly embraced by New Labour, has led to an influx of regulators.

In recent years we have witnessed an exponential growth in utilities regulation, a new Financial Services Authority and the Financial Services and Markets Act 2000, the deregulation of broadcasting and the railways, and the creation of the Competition Commission under the Competition Act 1998 – to name but a few.