Member

Previously, noble Lords have questioned why the regulator cannot put forward its own proposal. We believe that would create a perverse incentive, encouraging the leagues to dig in to their opposing positions and rely on the regulator to design a solution. The current design helps prevent this by forcing the leagues to consider a reasonable solution that the regulator may realistically choose over an equally valid agreement proposed by the opposing league. This design also helps to reduce the cost and uncertainty often generated by traditional regulatory determination.