Regulation is an abstract concept of management of complex rating systems according to a set of rules and trends. In rating systems theory, these types of rules exist in various fields, but the term has slightly different meanings according to context. State-mandated regulation is government intervention in the private market of ratings in an attempt to implement policy and produce outcomes which might not otherwise occur, ranging from investor or issuer protection to faster growth or political advancement. The regulations may prescribe or proscribe conduct, calibrate incentives like rating fees, or change preferences by reducing the free choice of a rating agency. Common examples of regulation include controls on market entries for rating agencies, prices, wages of rating analysts, development approvals for rating criteria, employment for certain people like Independent Non-Executive Directors in certain rating organizations, standards of analysis for certain financial products, and ancillary services. The EU regulation on credit rating agencies e.g. introduced a common approach to the regulation and supervision of credit rating agencies within the European Union. This approach was designed to enhance the integrity, responsibility, good governance and independence of credit rating activities to ensure quality ratings and high levels of investor protection.