Final answer:
The FDA is the federal agency that regulates OTC drugs, medical devices, cosmetics, and food products, ensuring safety and accurate labeling with the FTC overseeing OTC drug advertising.
Step-by-step explanation:
The entity responsible for the regulation of Over-the-Counter (OTC) drugs, medical devices, cosmetics, and food products in the United States is the Food and Drug Administration (FDA or USFDA), which is a federal agency under the Department of Health and Human Services. The FDA ensures that these products are safe for the public, and it regulates them based on different acts such as the Federal Food, Drug, and Cosmetic Act and the Public Health Service Act. It is important to note that while the FDA oversees prescription drug advertising and promotion, the Federal Trade Commission (FTC) regulates advertising for over-the-counter drugs.
When it comes to food and dietary supplements, the FDA has authority over the quality of substances sold and oversees labeling claims regarding composition and health benefits. Cosmetics, regulated by the FDA's Center for Food Safety and Applied Nutrition, require specific FDA approval for color additives and must have appropriate labeling especially if they have not been safety tested. The FDA is also given its authority by other laws such as the Controlled Substances Act, the Federal Anti-Tampering Act, and more, allowing it to regulate a wide array of products including medical and radiation-emitting devices.