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French law, people who act as administrators and participate in the management of the company’s affairs are treated as such although they have not been formally appointed. Businesses that have gone public are subject to regulations regarding their internal governance, such as how govt officers' compensation is decided, and when and the way data is disclosed to shareholders and to the general public. In the United States, these rules are primarily applied and enforced by the United States Securities and Exchange Commission . The rules are carried out and enforced by the China Securities Regulation Commission in China. In Singapore, the regulatory authority is the Monetary Authority of Singapore , and in Hong Kong, it is the Securities and Futures Commission . A single person who owns and runs a business is often generally identified as a sole proprietor, whether that particular person owns it directly or through a formally organized entity. Depending on the enterprise needs, an