How is regulation best defined?

Regulation is best defined as a rule created by the government interpreting a statute because it involves the establishment of specific legal requirements intended to govern conduct in various sectors. Regulations are formally enacted by government agencies and are based on laws passed by legislative bodies. They serve to implement and enforce statutory provisions, ensuring that relevant policies are followed and public interests are protected.

This definition captures the essence of regulation as it entails authoritative directives that must be adhered to, reflecting the government's role in maintaining order and accountability across different industries. Regulations provide clarity on how laws should be applied and what compliance looks like, thus facilitating a structured environment for businesses and individuals in society.