The role of watchdogs
Regulatory authorities are the state’s eye which secures the public interest in every critical area of the market. The significance of their mission became painfully evident in the failure of the Railway Regulatory Authority to address complaints over safety noncompliance. This precedent must serve as an example to be avoided. These agencies must make use of the instruments made available to them by EU and national legislation and prove that they can oversee and enforce regulations; and, if necessary, impose sanctions for oversight and neglect.
