Meaning of the word "regulatory body" in English

What does "regulatory body" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

regulatory body

US /ˈrɛɡjələˌtɔri ˈbɑdi/
UK /ˈrɛɡjʊlətəri ˈbɒdi/

Noun

an organization, usually governmental, that monitors and enforces rules and regulations in a particular industry or area

Example:
The financial industry is overseen by a powerful regulatory body.
New rules were introduced by the national regulatory body.