Regulatory bodies are organizations established by governments or independent entities to create and enforce rules and standards within specific industries. Their primary purpose is to protect public interest, ensure safety, and promote fair practices. Examples of regulatory bodies include the Food and Drug Administration (FDA) in the United States, which oversees food and pharmaceutical safety, and the Securities and Exchange Commission (SEC), which regulates the securities industry.
These organizations monitor compliance with laws and regulations, conduct inspections, and impose penalties for violations. They also provide guidance and support to businesses to help them understand and meet regulatory requirements. By doing so, regulatory bodies contribute to maintaining order and trust in various sectors, such as finance, healthcare, and environmental protection.