A regulatory body is an organization or agency established by the government to oversee and enforce laws and regulations within a specific industry or sector. These bodies ensure that companies and individuals comply with legal standards, promoting safety, fairness, and transparency. Examples of regulatory bodies include the Food and Drug Administration (FDA) for food and medicine, and the Securities and Exchange Commission (SEC) for financial markets.
Regulatory bodies often have the authority to create rules, conduct inspections, and impose penalties for non-compliance. They play a crucial role in protecting public interests by monitoring practices and ensuring that businesses operate within the law. Their work helps maintain trust in various sectors, from healthcare to finance.