1. The act of controlling or directing according to rule
   "The government's regulating of the financial industry aimed to prevent another economic crisis";
   - regulation

1. Fix or adjust the time, amount, degree, or rate of
   "regulate the temperature";
   - modulate
    
2. Bring into conformity with rules, principles or usage; impose regulations
   "This town likes to regulate"; "We cannot regulate the way people dress";
   - regularize, regularise [Brit], order, govern
    
3. Give direction to; be an influence on
   "experience often regulates ability";
   - determine, shape, mold [N. Amer], influence, mould [Brit, Cdn]
    
4. Restrain the emission of (sound, fluid, etc.)
   "The valve regulates the flow of water";
   - baffle

Type of: adjust, cause, control, correct, decide, determine, do, engender, hold back, keep, keep back, make, make up one's mind, restrain, set

Encyclopedia: Regulate, Control and Tax Cannabis Act of 2010