Abstract
The objective of this paper is to identify alternative models of regulation that address the problems and opportunities brought about by convergence. Regulatory convergence involves bringing together previously separate industry‐based regulations into a single legal and regulatory framework. Regulators need to consider different levels of and objectives for regulating sectors as well as overcome inconsistencies in regulation that result from traditional separation. These can result in regulatory arbitrage as companies try to choose the laws and bodies that most benefit them. Regulators also must deal with technological uncertainty and competition policies. There are five alternatives for regulating converging industries: status quo regulator, multi‐sector regulator, ICT regulator, coordination among regulators, and minimal regulation. Each of these represents different degrees of change that can be chosen based on circumstances including: competition, path dependency, perceptions about the environment, knowledge, and power.
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