This unit covers major theories and practices of regulation such as principles-based and rules-based regulation, statutory regulation, market-based regulation and self-regulatory schemes. It explores the realm of public, private and hybrid regulatory initiatives, where public and private entities collaborate or compete. Against this general theoretical background, the unit focuses on the regulation of risks. Whether one is discussing climate change, the rise of new technologies such as Artificial Intelligence, the role of expertise in government, the safety and efficacy of therapeutic goods, emerging diseases and pandemics, or the prospect of financial crises, a narrative of risk permeates public discourse. Attitudes towards risk can vary considerably, entailing very different uses of legal and regulatory instruments. This unit provides a comprehensive coverage of theoretical backgrounds and practical examples of regulatory frameworks for the prevention, assessment, management of, and reaction to, a broad range of risks. As it is in the nature of risks to transcend borders, there is a strong focus on the transnational dimension of their regulation.