Regulatory reform refers to the process of reviewing and changing existing laws and regulations to improve their effectiveness and efficiency. This can involve simplifying complex rules, eliminating outdated regulations, or creating new guidelines that better address current issues. The goal is often to reduce unnecessary burdens on businesses and individuals while still protecting public interests. Such reforms can impact various sectors, including healthcare, environmental protection, and financial services. By streamlining regulations, governments aim to foster economic growth, encourage innovation, and enhance compliance, ultimately benefiting society as a whole.