Description: Regulatory review is the process of evaluating and analyzing regulations to ensure they are effective and relevant. This process involves a systematic review of existing regulations, considering their impact on industry, the economy, and society at large. Regulatory review seeks to identify redundancies, inefficiencies, and areas for improvement, ensuring that regulations align with public policy objectives and the changing needs of the environment. Additionally, this process may include consultation with stakeholders, such as businesses, non-governmental organizations, and citizens, to gain a comprehensive view of how regulations affect different sectors. Regulatory review is essential for maintaining a regulatory framework that not only protects citizens and the environment but also fosters innovation and economic growth. In a constantly changing world, where technology and social dynamics evolve rapidly, regulatory review becomes a key tool to ensure that laws and regulations remain relevant and effective in promoting overall well-being.
