Regulatory reform is unquestionably of great importance, nowher more so than at EU level given the inherent complexity of a Union of 28 member states. If the process of developing policy, particularly legislation, is sub-standard, then inevitably so will be the outcome. The EU must lead by example in ensuring that policy is fit for purpose and the member states must also recognise their responsibility and role in the process.

Over-regulation, ineffective and poorly designed rules exist that are negative to enterprise and society’s efficiency. The OECD distinguishes between four different kinds of costs associated with regulatory failures:

Anti-corporate activists hold that the influence of big corporations is a detriment to the public good and to the democratic process. It should be recognized, however, that the EU legislates in many ways that restrict the actions of corporations and lawbreaking companies are usually punished in the form of monetary fines. In addition, from the perspective of business ethics, the point should be made that corporations are not, inherently more evil than any other groups and are no more likely to attempt unethical or illegal activity than other interest representatives.

Lob­by­ing is often mis­per­ceived by the pub­lic as a form of leg­al­ized cor­rup­tion. Crit­ics argue that the lack of trans­par­ency, exacer­bated by the influ­ence of lob­by­ists, hinders the demo­cratic legit­im­acy of law-making. How­ever, such a pre-judgment is based on exag­ger­ated assump­tions and there­fore, draws false con­clu­sions on the influ­ence and power of lobbyists.