Definition
'Regulatory' describes something that is related to or enforces regulations. Think of it like the police of a particular area, making sure everyone follows the rules. It's about oversight and compliance, like a health inspector checking a restaurant for cleanliness π³ or the Federal Aviation Administration (FAA) setting rules for airlines βοΈ. Regulatory bodies or agencies are created to make and enforce these rules. The goal is usually to protect the public, ensure fair practices, or maintain standards. π‘οΈ