Regulations are rules or directives made and enforced by an authority to control or govern conduct within a specific area. They provide detailed guidelines that stipulate how laws should be implemented and adhered to in practice. Regulations can cover a wide range of subjects, including environmental protection, safety standards, financial practices, and public health. They are often established by governmental bodies or regulatory agencies to ensure compliance with laws and to protect public interests. Compliance with regulations is mandatory, and failure to adhere to these rules can result in penalties, fines, or other legal consequences.
Synapse Financial Technologies filed for Chapter 11 Bankruptcy in April 2024, disrupting the fintech landscape. Hundreds of millions in customer deposits were frozen, affecting around 100 clients including lenders. Regulatory…