The term regulation refers to a set of rules or guidelines that govern behavior, activity, or the use of something. In its most common usage, it is used in reference to laws and legal codes that establish standards for conduct or practice within a particular field or industry. For example, there may be regulatory bodies that oversee financial institutions, setting standards for how they operate and manage their finances. Regulation can also refer to the act of controlling or managing something, such as regulating traffic flow on a roadway or regulating the temperature in a room using an thermostat. In its broader sense, regulation refers to any system of rules or standards that govern behavior or activity within a particular context.