Question

Difference between statutory and regulatory body

Answer 1

Answer:

Regulatory agencies use a commission system of administration, and their terms of office are fixed and often very long. Regulatory agencies are generally a part of the executive branch of the government, or they have statutory authority to execute their functions with oversight from the legislative branch.Both statutory requirements and regulatory requirements are those requirements that are required by law. ... “Statutory refers to laws passed by a state and/or central government, while regulatory refers to a rule issued by a regulatory body appointed by a state and/or central government.”