law, rule, regulation, precept, statute, ordinance, canon mean a principle governing action or procedure. law implies imposition by a sovereign authority and the obligation of obedience on the part of all subject to that authority. obey the law rule applies to more restricted or specific situations.

banking is regulated by a sophisticated set of laws and regulations that are constantly evolving. ... It examines the development and current state of banking legislation and regulation and facilitates bankers and their institutions to shape their practice to meet all the necessary legal and regulatory requirements.