Regulator vs. adminstrator

[FangFang]

Business English Lesson, Advanced Level

ESL/EFL Test #161 "Start Your Own Bank", question 4

This agency is the bank's primary ........., with the duty to protect the public from questionable banking practices.

(a) administrator
(b) moderator
(c) originator
(d) regulator

Business English Lesson, Advanced Level

ESL/EFL Test #161 "Start Your Own Bank", answer 4

This agency is the bank's primary regulator, with the duty to protect the public from questionable banking practices.

Correct answer: (d) regulator

Your answer was: incorrect
This agency is the bank's primary administrator, with the duty to protect the public from questionable banking practices.
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Hello,
I think these two words "administrator " and "regulator" have similar meanings . Why use "regulator" rather than "administrator"?? Thanks.

[Mister Micawber]

.
Not at all here-- administrators work for the company and organize, supervise, etc; regulators are outside authorities.
.
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Native English teacher at Mister Micawber's