Self-Regulation of an Industry versus the Rule of Law

Howard Snoyman, Executive Legal Counsel, Solal Technologies (Pty) Ltd, South Africa

Self-regulation is an honourable concept. Proponents of the system emphasise the relative amiability and expediency of dispute resolution mechanisms, and remind industry that to the extent that it is not satisfied with the relevant self-regulatory body, that it has the power to effect the necessary changes to the system because such system derives its very power from the industry. However, self-regulation becomes difficult and hostile when the regulatory body starts to become more stringent and impose more onerous restrictions than the law in place at the time. When common law rights become eroded through self-regulation, a return to the rule of law becomes necessary for the long-term viability of the industry or sector concerned.

Howard Snoyman is an admitted attorney of the High Court of South Africa, and has obtained both LLB and MSc. Med (Bioethics and Health Law) degrees. He attends to the legal and general commercial management of the company, including matters relating to compliance, labour, contract management and corporate governance.

Solal Technologies a pharmaceutical company that specialises in preventative and anti-aging medicine, offering solutions to most health problems and anti-aging needs, using nutraceuticals, bio-identical hormones, dermaceuticals and functional foods. Independent research sourced in 2011 that Solal is widely prescribed by doctors and recommended by pharmacists. Products are manufactured using effective doses of the highest quality pharmaceutical grade active nutritional ingredients and plant extracts, sourced from the best raw material suppliers around the globe.