Definition - What does Regulatory Body mean?
A regulatory body is a public organization or government agency that is set up to exercise a regulatory function. This involves imposing requirements, conditions or restrictions, setting the standard for activities, and enforcing in these areas or obtaining compliance. Regulatory bodies cover a wide variety of professions, but not all professions are regulated and may be self-regulated. A regulatory body might also be referred to as a regulatory agency, a regulatory authority or a regulator.
Safeopedia explains Regulatory Body
The primary goal for a regulatory body is to protect the public, such as the providing and enforcing on adequate standards for health and safety in an organization. Unlike professional organizations, which require regulating, a regulatory body is created on the basis of a legal mandate or legislation. These regulatory bodies are funded by levies taken from their professions and have their own staff and premises.