Final answer:
A regulatory agency is a government agency responsible for supervising and regulating specific industries. They enforce laws and regulations and protect consumers.
Step-by-step explanation:
The situation described in the question refers to a regulatory agency. Regulatory agencies are government agencies that are responsible for supervising and regulating specific industries. These agencies ensure that businesses comply with laws and regulations, and they have the authority to enforce penalties and fines for non-compliance.
Regulatory agencies are independent and are not easily influenced by partisan politics. They have the power to develop regulations and policies that protect consumers and promote fair competition.
Examples of regulatory agencies include the Federal Communications Commission (FCC), the Food and Drug Administration (FDA), and the Securities and Exchange Commission (SEC).