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Regulatory Capture at the Minerals Management Service (MMS)

An investigation by the Office of the Inspector General finds Gregory Smith, a client at the Minerals Management Service (MMS), guilty of misconduct and misbehavior. His actions based on allegations of confidential services raise conflict of interest claims within the firm. Identifying warning sources and signs is critical in agencies to prevent future severe mistakes of disloyalty within its members by solving regulatory capture problems.

All personnel measures are carried out to relate to the government employment legislation and guidelines. To increase paperwork requirements and improve employees’ ethical training through the Royalty in Kind program (Smith 2008,1). The disciplinary actions include letters of reprimand and permanent reassignment from the program, suspension without pay, termination from federal service. In the course of the investigation, those who are entirely devoid of acceptance and commitment to government ethical standards are exposed (Smith 2008,2). The Office of the Inspector General carried out investigations on other employees to maintain the highest levels of ethical and professional wrongdoing among the organization’s members.

Gregoire’s behavior is caught up in inappropriate and warranted intense administrative action through an extensive investigation. The consultant company regulators accessed information through Smith and offered incentives to keep him on board. He is involved in sex and drugs abuse with the firms’ subordinates. Several interviewers found Smith giving false allegations and directing other employees to lie too (Smith 2008,3). These findings raise an occurrence of regulatory captures through asymmetric interactions with close members of the firms. Regulators developed close relationships with Smith that resulted in sympathetic favors’ giving generous terms of regulation.

The agency committee has the authority to look into the gas royalty program and federal oil for severe mismanagement. It should consider legislation to improve the collection of bonus bids, rents, and production royalties from both onshore and offshore oil and gas development. Government regulation has the potential to encourage monopolies to act in the public interest of other agencies. Financial regulators are prepared for the credit crisis by permitting large banks to make errors in their mortgage lending practices.

The regulatory capture at the MMS existed through false allegations, sexual favors, and outside employment. Exploring these issues can help to prevent future misconduct at the MMS and other agencies. For example, assessing unethical behavior is crucial in implementing rules to govern vulnerable sectors that depend on a client’s expertise to carry out the firms’ operations.

Bibliography

Smith, Gregory. 2008. Investigative Report of Gregory W. Smith (Redacted). Ebook.

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Essay4Business. (2022, October 22). Regulatory Capture at the Minerals Management Service (MMS). Retrieved from https://essay4business.com/regulatory-capture-at-the-minerals-management-service-mms/

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Essay4Business. (2022, October 22). Regulatory Capture at the Minerals Management Service (MMS). https://essay4business.com/regulatory-capture-at-the-minerals-management-service-mms/

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"Regulatory Capture at the Minerals Management Service (MMS)." Essay4Business, 22 Oct. 2022, essay4business.com/regulatory-capture-at-the-minerals-management-service-mms/.

1. Essay4Business. "Regulatory Capture at the Minerals Management Service (MMS)." October 22, 2022. https://essay4business.com/regulatory-capture-at-the-minerals-management-service-mms/.


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Essay4Business. "Regulatory Capture at the Minerals Management Service (MMS)." October 22, 2022. https://essay4business.com/regulatory-capture-at-the-minerals-management-service-mms/.

References

Essay4Business. 2022. "Regulatory Capture at the Minerals Management Service (MMS)." October 22, 2022. https://essay4business.com/regulatory-capture-at-the-minerals-management-service-mms/.

References

Essay4Business. (2022) 'Regulatory Capture at the Minerals Management Service (MMS)'. 22 October.

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