Fundamental elements must be addressed to create a successful regulatory authority. In particular, countries must determine the appropriate legal status of the regulator and the impact, if any, that the organization’s legal standing has on its operations and functions. The legal status of the regulatory authority will depend on the country’s political and legal systems.
Once the regulator’s mandate and competencies have been established, it is important to determine the regulator’s institutional design, as well as its relationship with the government, industry, and the public. The institutional design of the regulator will affect the structure of the regulator, including its leadership and management organization and its organizational and administrative structures. Additionally, the successful management of a regulator and the effective exercise of its functions will be affected by the administrative structure of the regulator, such as its staffing process and the ethical conduct of its staff.