What is the Purpose of the Increasing Number of Regulations?

It is no secret that the number of regulations continues to increase, and in a poll during a recent webinar, 90 percent of the audience believed that the number would continue to increase in the future of regulatory compliance. What is the purpose of the increasing number of regulations? I know this question seems like it has a simple answer. It is obvious, right? Regulations are created to keep everyone safe. They are enforced so that workplaces are safe for the employees and environment. I have never even thought to ask the question because it did not seem relevant or necessary.

During a recent phone conversation with a regulatory specialist, I was informed that some believe that this question is valid. As flabbergasted as I was by this, I was intrigued.

Why would regulations be made other than to increase safety and decrease risk?

According to the regulatory specialist, some believe that not all of the regulations are created for protection. Some are created in order to have an easy way to fine a company. If this is true, how many regulations are for our benefit and how many are for the financial benefit of the regulators? I tend to believe in the good of people when it comes to thinking of others rather than being power hungry and selfish, but it is interesting.

What do you think? Is this an outrageous thought, or is there any validity to it?

Whatever the case may be, compliance issues can be easily solved with a sophisticated regulatory compliance software. These tools can help compliance officers and departments to remain up-to-date with latest regulatory developments.