The article is devoted to regulation as a new form of law which do notspring from the two major traditional sources of law — the legislator and the judiciary.Author mentions 5 features of regulation and indicates for each one of thesefeatures how they affect the legal system implying that regulation cannot be ignored.There are: a) regulatory rules are usually designed in order to fulfill a specific,predetermined and single purpose; b) the rules are not only considered as instrumentalto achieve a certain purpose, but as a `mere’ instrument; c) the orientation towardsfurthering the purpose around which a regulatory regime is organized, had led to apractice of continuous assessment; d) in a regulatory regime there is no real separationbetween rulemaking, monitoring compliance, and enforcement; e) those who areregulated act also as regulators themselves. All five features have consequences for theprinciples of equality and legal certainty and threaten to affect the rule of law in such away that regulation can no longer be discarded from the analysis of law.