Question

What are three pillars that support format regulatory institutions? Choose 3 answers. a. Norms b. Attitudes c. Cultures d. Laws e. Regulations f. Rules

Answer 1

A regulatory institution also called a regulatory body or a regulatory authority is basically referred to as a government body which is formed under legislative acts(laws) to ensure the ways in which the state maintains order with the provision of actions and in carrying out all its purposes. It is important to know that such regulatory bodies are created in order to ensure protection, to promote and maintain the health and safe environment for the public by practicing appropriate and legal services.

To build the structure and style of any institution, it goes under continuous formatting. Also in this context, it is important to mention that regulatory institution undergoes similar formatting as well. In this answer, we shall discuss three such important pillars that support format the regulatory bodies or institutions. Three of the most important pillars that support and build the format and structure of the regulatory institutions are in brief discussed below:

1. Norms - The norms are typically the unexceptional standards that need to be followed no matter what. Before setting up a regulatory body it is essential that the guidelines of having some standards in the structure of formatting the institution are followed. Norms provide the sequence of order in the institution and create the foundation of correct practices.
2. Laws- The regulatory institutions abide by the law and implement and enforce laws that are enacted by legislatures. It's formatting and building of the institution also needs prior laws to set it up. For conducting the norms for the public or citizens, laws are very important and in this context, one such important pillar that sets up the formation of e regulatory institution is the laws that ascertain various roles and responsibilities.
3. Regulation-The third thing that acts as a pillar to formatting the regulatory bodies are the regulations. The term regulation typically infers to the different rules and directives that are usually made by the institutions and maintained by them as well. As a regulatory body is assigned with the job role of protecting the wider community, it is very important that they create and practice regulations that keep the institution working.