Standards as a Business Enabler must not be confused with regulations.
The above red circle with the number 30, is a regulation. If you exceed this speed limit then you can be fined. The other regulation is the Toy Safety Regulations. These are mandatory.
It may interest you to know that the top 10 business standard used in the world today are voluntary standards developed by business for business. The business community implements these standards as part of their business requirements and terms of trade. Many government around the world are moving to voluntary standards to help business become proactive, self regulate and take ownership.