Discuss the roles of regulation. What will be an ideal response?

Numerous regulation roles depend on the technical capacity, the structure of the regulatory entity, regime, or the set administrative arrangements. These roles include protecting the public interest, establishing safety and quality standards, facilitating dispute resolution, imposing penalties for non-compliance, and monitoring contractual obligations compliance. An ideal response involves designing laws, rules, and policies that support and supervise a credible threat of enforcing it to produce the desired outcome. It should focus on the purpose, trustworthiness reputation, commitment to unbiased decision making, and aim to prevent harm in the future. The outcome depends on the objective set by the specified entity.