Germany and France have rather similar regulatory setups to ours, so it does work in larger and more fragmented countries. But as I said, I have no idea how it

Germany and France have rather similar regulatory setups to ours, so it does work in larger and more fragmented countries. But as I said, I have no idea how it would work for USA. It's honestly kind of hard for me to imagine how any US regulatory bodies work, when they replace the leadership every four years, and often without a broad cross-party agreement.