What happens if a compiler for language "X" that has a international standard markets itself and claims it's standard compliant but it's not.Are there any regulations or punishments to prevent this? Does it matter if the compiler is commercial or free?
I would be surprised if any compilers are 100% compliant with there relevant language standards. Some compilers adhere to standards more than others, as for regulations and punishments that is a matter of licensing. Free software under the GPL licences have the following clause. See 15. and 16. here
THERE IS NO WARRANTY FOR THE PROGRAM, TO THE EXTENT PERMITTED BY APPLICABLE LAW. EXCEPT WHEN OTHERWISE STATED IN WRITING THE COPYRIGHT HOLDERS AND/OR OTHER PARTIES PROVIDE THE PROGRAM “AS IS” WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. THE ENTIRE RISK AS TO THE QUALITY AND PERFORMANCE OF THE PROGRAM IS WITH YOU. SHOULD THE PROGRAM PROVE DEFECTIVE, YOU ASSUME THE COST OF ALL NECESSARY SERVICING, REPAIR OR CORRECTION.