Regulatory
Regulatory refers to the control or supervision of certain activities or processes, often within a specific industry or sector. It is typically carried out by a public authority or government body with the power to enforce rules and regulations. Regulatory bodies exist to ensure compliance with laws and regulations, maintain fair competition, protect consumers, and maintain the integrity of the market.
Regulatory Bodies[edit | edit source]
Regulatory bodies are organizations set up by a government to oversee and enforce laws and regulations within a particular industry or sector. They are typically independent of the industries they regulate, and have the power to impose sanctions, fines, or other penalties for non-compliance.
Examples of regulatory bodies include the Federal Communications Commission (FCC) in the United States, which regulates interstate and international communications; the Financial Conduct Authority (FCA) in the United Kingdom, which regulates financial firms providing services to consumers; and the European Medicines Agency (EMA), which regulates the development, evaluation, and monitoring of medicines in the European Union.
Regulatory Compliance[edit | edit source]
Regulatory compliance refers to the process of ensuring that an organization or individual adheres to the laws, regulations, guidelines, and specifications relevant to its business or activities. This can involve a wide range of activities, from ensuring that a company's financial reports are accurate and complete, to ensuring that a healthcare provider is following all relevant patient safety regulations.
Regulatory Framework[edit | edit source]
A regulatory framework is a model people use to outline the policy, rules, and regulations that an industry or organization must follow. These frameworks are often used by regulatory bodies to ensure that all entities within their jurisdiction are operating in a manner that is safe, fair, and beneficial to the public.
See Also[edit | edit source]
References[edit | edit source]
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