>A regulatory body is supposed to give maximum freedom to business to help them come up with cheaper and better products while not violating other people's righ

>A regulatory body is supposed to give maximum freedom to business to help them come up with cheaper and better products while not violating other people's rights. Where did you manage to come up with that definition of regulatory bodies? Their job is to regulate actors under their jurisdiction based on goals set for them by their respective legislature. They don't all have an overarching goal of improving businesses. Some are(were) explicitly opposed to business interests like the EPA