Regulatory bodies are organizations or agencies that have been established to oversee and regulate specific industries, sectors or activities. Their primary function is to ensure compliance with laws, rules, standards and guidelines in order to protect public interest, safety and health. These bodies may also set licensing requirements for professionals or businesses operating within their jurisdiction, enforce penalties for non-compliance, and develop policies and procedures to promote fair competition and consumer protection. Examples of regulatory bodies include financial services authorities such as the Securities and Exchange Commission (SEC), healthcare organizations like the Food and Drug Administration (FDA) or telecommunications regulators like the Federal Communications Commission (FCC).