Table A1 Regulative mechanisms of... | Emerald Publishing

Table A1

Regulative mechanisms of institutional work by market-shaping public actors and illustrative quotes

Institutional pillar	Mechanism of institutional work	Finland	Sweden	New Zealand
Regulative	Altering regulators	“The question in the merger phase was the creation of STEA (the regulator focusing on sharing the betting profits), when there was discussion how STEA is going to be funded” (betting 1) “Now that the playing got separated from fund sharing, and that is connected with the Ministry, naturally various stakeholders kept strong hold of their own interests and new rules were made how profit is shared between different sectors” (betting 2)	The District-Heating Act also introduced a District Heating Board as an independent body within the Swedish Energy Agency (Swedish Energy Agency, 2015) “This board's major task is to mediate between district heating companies and their customers in negotiations regarding the terms according to the District Heating Act” (Aronsson and Hellmer, 2009, p. 29)	“We made a new regulator, the Financial Markets Authority. So, my team did the work to make them, establish them” (peer-to-peer 1) “FMA has primary regulatory responsibility for misleading and deceptive conduct in relation to financial products and financial services. The (Commerce) Commission has primary regulatory responsibility for misleading and deceptive conduct in relation to consumer credit contracts” (memorandum of understanding between FMA and Commerce Commission, March 31, 2014)
	Changing taxation	“The Parliament has accepted the proposal to change betting taxation. Taxation will increase to 10% except for horse betting in the beginning of 2011 (…) Tax rate for horse betting was maintained because economic downturn has hit the profitability of these games remarkably more than other forms of gaming” (STT, 2010)	“We knew that legislation was being discussed (with regard to lower electricity tax), that's one of the reasons we saw possibilities around focusing on so-called data parks. (…) The tax reduction explicitly applies to the production of heat and cooling for data centers also when supplied by an external company” (district-heating 5)	(not present in New Zealand’s case)
	Enforcing	“According to Jokerit (hockey team playing in an international ice hockey league) its marketing collaboration with Nordic Bet targets and takes place beyond Finland's borders but the Police Board did not share the view. In addition, the Police Board sees that Nordic Bet violates the Lottery Law, as it offers games on a Finnish language website, although the servers are located outside Finland” (Hakola, 2015)	“Among the customers interviewed, the majority consider their position in the district heating market strengthened (…) the revenue development follows the cost that depend on fuel price trend (…) at this stage, the Energy Inspectorate sees no reasons for proposing further measures to strengthen the customers' position in the district heating market” (Abrahamsson and Schrammel, 2016, p. 9)	“The Commerce Commission says Harmoney will plead guilty to charges of misleading consumers after the regulator filed charges against New Zealand's first and biggest peer-to-peer lender under the Fair Trading Act” (Boot, 2016)
	Gatekeeping	“With RAY we have had the question of how many slot machines we can have so that we do not have oversupply. So, it is about balancing but we have been able to keep it together and thus prevent playing in Malta and other companies that try to bomb it and get their own share of the whole” (betting 2)	“They (Fortum) had sorted their open district heating model, and there was a frustration linked to that they could not really compete in the data park business because there were so many different elements that needed to work. What we (Stockholm City) did then when we formulated our collaboration … was that we said to the politicians that we need to find ways to work dedicated and long term (with site development) and then we found these sites (where we could change the detailed city plans, originally dedicated to power and heat generation, to include general industrial activities)” (district-heating 6)	“We are subject to broker regulations as well our peer-to-peer license. And those broker regulations obviously have, are really about how you handle other people's money. And that's a good thing, you know, that's a good thing” (peer-to-peer 3) “Further professionals come under FMA licensing, including managers of registered schemes (managed investment schemes), derivatives issuers, and independent trustees of restricted schemes. Providers of discretionary investment managements services (DIMS) will also be licensed” (FMA media release, November 28, 2014)
	Legislating	“It was a must to go to clause-level changes (in legislation), because it cannot be in the hands of individual authorities, these questions. If I left the office, another person might come to another conclusion and interpret the rules differently. And I do not think this leads to a consistent and long-term gaming and betting politics, which is needed for maintaining the whole system” (betting 3)	A new District Heating Act was adopted in 2008 which obliges transparency in the pricing of district heat provisions and contains directions for contract conditions, and which supports the traditional ownership structure of the network and TPA (Fjarrvarmelagen, 2008) “The referral response became part of the legislation and … (eventually) we landed in a market model facilitating a dynamic development of the district heating sector, rather than regulating it in rigid steps which we were convinced would hinder its development” (district-heating 1)	“Then, the really big thing has been the Financial Markets Conduct Act, which was, we rewrote all the laws, which has been quite good fun. It's not often in the Government, that you get to work on projects like this. Usually you're playing around the edges of something” (peer-to-peer 1)
	Rule- and price-setting	“Nowadays they (game rules) are given as game rule decrees of the Ministry of the Interior, which means that we (Ministry of the Interior) can be proactive. We do not need to wait for a gaming company to react and make a proposal (.…) This strengthened the role of the authority remarkably(….) so we could change the rules in the Government's general assembly every Thursday, if you want to exaggerate” (betting 3)	“A new law on district heating came into action on July 1, 2008. This new law (SFS 2008:263) aims at strengthen the consumer's position in the market through an increased transparency into the district heating companies. This will take place partly with higher demands and clarifications on the conditions in all formal agreements between buyers and sellers, rules around obligations to negotiate, protections against stoppage, transparent and clear price information and the use of open accounts of all facts regarding district heating companies' operations and finance” (Aronsson and Hellmer, 2009, p. 27)	“The legislation was passed, and then we had to do a big process to develop lots of regulations that sit under the regime. So, if you think of the law under the Act being a sort of high level framework, it still has got enough detail in it, but there's a lot of flexibility in the regime to do things via regulations. (…) Part of that regulation-making process also included thinking about what's our regime going to be for peer-to-peer and crowdfunding” (peer-to-peer 1) “You cannot charge unreasonable fees, which the courts have had to decide what that means. And the courts have said, well that means there are four stages (…) and that's all you're allowed to charge for. Now one of the things that is excluded is capital that's gone into your platform” (peer-to-peer 3)

Institutional pillar	Mechanism of institutional work	Finland	Sweden	New Zealand
Regulative	Altering regulators	“The question in the merger phase was the creation of STEA (the regulator focusing on sharing the betting profits), when there was discussion how STEA is going to be funded” (betting 1)“Now that the playing got separated from fund sharing, and that is connected with the Ministry, naturally various stakeholders kept strong hold of their own interests and new rules were made how profit is shared between different sectors” (betting 2)	The District-Heating Act also introduced a District Heating Board as an independent body within the Swedish Energy Agency (Swedish Energy Agency, 2015)“This board's major task is to mediate between district heating companies and their customers in negotiations regarding the terms according to the District Heating Act” (Aronsson and Hellmer, 2009, p. 29)	“We made a new regulator, the Financial Markets Authority. So, my team did the work to make them, establish them” (peer-to-peer 1)“FMA has primary regulatory responsibility for misleading and deceptive conduct in relation to financial products and financial services. The (Commerce) Commission has primary regulatory responsibility for misleading and deceptive conduct in relation to consumer credit contracts” (memorandum of understanding between FMA and Commerce Commission, March 31, 2014)
	Changing taxation	“The Parliament has accepted the proposal to change betting taxation. Taxation will increase to 10% except for horse betting in the beginning of 2011 (…) Tax rate for horse betting was maintained because economic downturn has hit the profitability of these games remarkably more than other forms of gaming” (STT, 2010)	“We knew that legislation was being discussed (with regard to lower electricity tax), that's one of the reasons we saw possibilities around focusing on so-called data parks. (…) The tax reduction explicitly applies to the production of heat and cooling for data centers also when supplied by an external company” (district-heating 5)	(not present in New Zealand’s case)
	Enforcing	“According to Jokerit (hockey team playing in an international ice hockey league) its marketing collaboration with Nordic Bet targets and takes place beyond Finland's borders but the Police Board did not share the view. In addition, the Police Board sees that Nordic Bet violates the Lottery Law, as it offers games on a Finnish language website, although the servers are located outside Finland” (Hakola, 2015)	“Among the customers interviewed, the majority consider their position in the district heating market strengthened (…) the revenue development follows the cost that depend on fuel price trend (…) at this stage, the Energy Inspectorate sees no reasons for proposing further measures to strengthen the customers' position in the district heating market” (Abrahamsson and Schrammel, 2016, p. 9)	“The Commerce Commission says Harmoney will plead guilty to charges of misleading consumers after the regulator filed charges against New Zealand's first and biggest peer-to-peer lender under the Fair Trading Act” (Boot, 2016)
	Gatekeeping	“With RAY we have had the question of how many slot machines we can have so that we do not have oversupply. So, it is about balancing but we have been able to keep it together and thus prevent playing in Malta and other companies that try to bomb it and get their own share of the whole” (betting 2)	“They (Fortum) had sorted their open district heating model, and there was a frustration linked to that they could not really compete in the data park business because there were so many different elements that needed to work. What we (Stockholm City) did then when we formulated our collaboration … was that we said to the politicians that we need to find ways to work dedicated and long term (with site development) and then we found these sites (where we could change the detailed city plans, originally dedicated to power and heat generation, to include general industrial activities)” (district-heating 6)	“We are subject to broker regulations as well our peer-to-peer license. And those broker regulations obviously have, are really about how you handle other people's money. And that's a good thing, you know, that's a good thing” (peer-to-peer 3)“Further professionals come under FMA licensing, including managers of registered schemes (managed investment schemes), derivatives issuers, and independent trustees of restricted schemes. Providers of discretionary investment managements services (DIMS) will also be licensed” (FMA media release, November 28, 2014)
	Legislating	“It was a must to go to clause-level changes (in legislation), because it cannot be in the hands of individual authorities, these questions. If I left the office, another person might come to another conclusion and interpret the rules differently. And I do not think this leads to a consistent and long-term gaming and betting politics, which is needed for maintaining the whole system” (betting 3)	A new District Heating Act was adopted in 2008 which obliges transparency in the pricing of district heat provisions and contains directions for contract conditions, and which supports the traditional ownership structure of the network and TPA (Fjarrvarmelagen, 2008)“The referral response became part of the legislation and … (eventually) we landed in a market model facilitating a dynamic development of the district heating sector, rather than regulating it in rigid steps which we were convinced would hinder its development” (district-heating 1)	“Then, the really big thing has been the Financial Markets Conduct Act, which was, we rewrote all the laws, which has been quite good fun. It's not often in the Government, that you get to work on projects like this. Usually you're playing around the edges of something” (peer-to-peer 1)
	Rule- and price-setting	“Nowadays they (game rules) are given as game rule decrees of the Ministry of the Interior, which means that we (Ministry of the Interior) can be proactive. We do not need to wait for a gaming company to react and make a proposal (.…) This strengthened the role of the authority remarkably(….) so we could change the rules in the Government's general assembly every Thursday, if you want to exaggerate” (betting 3)	“A new law on district heating came into action on July 1, 2008. This new law (SFS 2008:263) aims at strengthen the consumer's position in the market through an increased transparency into the district heating companies. This will take place partly with higher demands and clarifications on the conditions in all formal agreements between buyers and sellers, rules around obligations to negotiate, protections against stoppage, transparent and clear price information and the use of open accounts of all facts regarding district heating companies' operations and finance” (Aronsson and Hellmer, 2009, p. 27)	“The legislation was passed, and then we had to do a big process to develop lots of regulations that sit under the regime. So, if you think of the law under the Act being a sort of high level framework, it still has got enough detail in it, but there's a lot of flexibility in the regime to do things via regulations. (…) Part of that regulation-making process also included thinking about what's our regime going to be for peer-to-peer and crowdfunding” (peer-to-peer 1)“You cannot charge unreasonable fees, which the courts have had to decide what that means. And the courts have said, well that means there are four stages (…) and that's all you're allowed to charge for. Now one of the things that is excluded is capital that's gone into your platform” (peer-to-peer 3)