The Rise of Transnational Private Meta-Regulators

The emergence of transnational private regulation has also triggered the rise of private meta-regulation. Meta-regulation refers to the process through which a regulatory body oversees another regulatory body and sets standards for its activities, governance structure or performance. This article explains the emergence and functions of private meta-regulation by drawing on a comparative study of two transnational private meta-regulators: the Global Food Safety Initiative and the European Advertising Standards Alliance. By assessing the governance design of both meta-regulators, as well as the instruments and scope of meta-regulation, we argue that meta-regulation in this context is most prominently concerned with the bolstering of capacity, credibility and legitimacy of private regulatory regimes and convergence between such regimes.