Question

Which is a function of regulatory agencies ?

Answer 1

Answer:

Enforcing business compliance is a function of regulatory agencies

Explanation:

Regulatory agencies are independent organization established by the Government in order to enforce correct standards in the business that is operating in the country. It defends the economic welfare of the consumers. It sets criterion in the specific field. They implement protocols in order to protect the quality of the product.

Regulatory bodies enforce safety standards. It requires individuals and the company or the organization to obtain license. It also asks for the administrators to give reasons and explain their actions.

Regulatory agencies can impose penalties if the quality and set parameters are not achieved. It can also seize the license of a company if it goes against the safety standards set by the regulatory agency.