Regulatory review
Regulatory review is the process by which government agencies evaluate products, services, or practices to ensure they meet safety, quality, and legal standards before they are allowed in the market. This can involve examining everything from new medicines and food to environmental practices and financial services. The goal is to protect public health, safety, and welfare, ensuring that companies comply with laws and regulations. This process often includes assessing scientific data, conducting inspections, and gathering public input to make informed decisions on whether to approve, modify, or reject proposals.
Additional Insights
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Regulatory review is the process by which government agencies evaluate products, services, or practices to ensure they meet safety, quality, and legal standards. This can involve examining new medications, environmental impacts, or business practices. The goal is to protect public health and safety, promote fair competition, and ensure that industries comply with laws. Regulators collect and assess data, consult with experts, and sometimes require changes before approval. This careful scrutiny helps prevent harm and builds public trust in various sectors, from pharmaceuticals to financial services.