Regulating through litigation: the nature of regulatory rulings

The study of the relation between Courts and regulation usually focuses in determining the extent to which Courts can review technical decisions dictated by administrative agencies. However, there is another phenomenon that requires attention, which is the establishment of specialized tribunals with jurisdiction over economic regulation. Particularly since some of those tribunals, are empowered to dictate general measures and regulations on economic sectors. These rulings, which usually originate in adversarial proceeding before the tribunal, constitute a new source of economic regulation that has not yet been subject to deep analysis.
We shall try to establish the nature of these rulings in order to determine if there is any constitutional or legal tool to control their issuance and content. Specifically, we will discuss whether these rulings should be considered an administrative act or a proper judicial decision by reviewing their main elements and distinctive characteristics.