Economic regulators are usually the agencies established by central government for the control of or intervention in the operation of markets, according to public interest principles and criteria.

For example, the fair and efficient operation of markets requires that monopolies are not allowed to abuse their dominance, and that competitors participate in the market in ways which do not restrict, prevent or distort competition. Sanctions available to economic regulators are often considerable, ranging from the power to admonish and accept undertakings from delinquent market participants to correct their behaviour, up to the ability to impose fines (often very large) and to initiate criminal proceedings against companies and their officers, for example for cartel

Cartel

A cartel is a formal agreement among competing firms. It is a formal organization of producers and manufacturers that agree to fix prices, marketing, and production. Cartels usually occur in an oligopolistic industry, where there is a small number of sellers and usually involve homogeneous products...

behaviour.