That is one my my complaints. But that doesn't mean we shouldn't also ensure competitive markets. But it isn't so much that the regulation is designed to prote

That is one my my complaints. But that doesn't mean we shouldn't also ensure competitive markets. But it isn't so much that the regulation is designed to protect the incumbent, it is: - the volume of regulations requires a compliance overhead that is more easily amortized by larger firms - incumbents are involved in the design (or provide feedback) into the regulations such that they are able to comply specific rules, which might not actually fulfill the intent of the protecting the public. The process of codifying and validating practices to check boxes is often just waste.