[hackeraccount]

Generally regulation and competition are in opposition to one another. Regulations inhibit innovation. See Airline regulation.

That's not say regulations are a bad thing - how much innovation do you want in the handling of your food? But at the same time it's worth being aware the regulations are written slowly, tend to be inflexible and get written by people who are informed about the subject matter which is to say are incumbents with a vested interest in the status quo.