Too strict

I am contemplating how I deal with my youngest sister in her teens. Seems I am so strict or may I say, protective. Before she lived with us, Daddy said to watch over her but not too strict. But as an older sister and  guardian, I cannot help but "implement" rules to her such that after school, she must go home directly, no night outs, etc…etc. I know I am hurting her for being strict because with Mamang before, she can go out whenever she wanted. She envies her classmates because they can do whatever they want….no Ate to say "no" to them. Many times, I felt guilty for being such a terror Ate to my sister. Times when I ask myself if am I doing the right thing. I know I always hurt her but I’m hurting also. All I wanna do is to protect her and make sure that she will finish her studies. Seems I am more strict than my parents but this is the only way I think is right for her. Before I "implemented" rules on her, I allowed her to go out with her friends provided that she’ll go home by 11PM. But she failed me that she didn’t go home. The worst is, she didn’t answered my calls and never informed where she is. Since my husband is the one who convinced me to allow her to go out, he was also worried that night. Hour after hour, he goes out of the house to wait for my sister. He felt so guilty and never able to sleep the whole night. What if something will happen to her? For sure I would be blamed for I am accountable for my sister now that she’s with me.