Regulation and supervision

Regulation and supervision refer to the processes that ensure organizations, especially in industries like finance and healthcare, follow laws and standards to protect consumers and maintain order. Regulation involves creating rules that organizations must obey, while supervision involves monitoring and enforcing those rules to ensure compliance. This helps prevent fraud, maintain quality, and promote fair practices. Together, they aim to build trust in systems, protect public interests, and encourage responsible behavior from companies and individuals. Essentially, regulation sets the rules, and supervision makes sure everyone plays by them.