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A Regulatory Authority or Regulator is a government agency that regulates an area of human activity by codifying and enforcing rules and regulations, supervision or oversight, for the benefit of the public at large. It is usually a part of the executive arm of the government or has statutory authority to perform its functions. Regulatory authorities are commonly set up to enforce standards and safety, to oversee use of public goods and regulate commercial activities. Examples of regulatory agencies are the US Food and Drug Administration, the UK Office of Communications and the Telecom Regulatory Authority of India. The Regulatory process has three basic elements To ensure that it does fulfill its role, a Regulatory Body uses mechanisms such as the following
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