In a regulated industry, the regulator would absolutely issue fines and threats of license if gross incompetence led to them not upholding their regulatory duti

In a regulated industry, the regulator would absolutely issue fines and threats of license if gross incompetence led to them not upholding their regulatory duties... Well in some ideal world that would happen, but ha, not likely. Instead they'll just have to have some 'extra' meetings with the regulator and report on their remediations later.