A regulator's job is the protect the public interest, nothing more. Certainly not shareholder interest, except to the extent that it overlaps with the public in

A regulator's job is the protect the public interest, nothing more. Certainly not shareholder interest, except to the extent that it overlaps with the public interest. They don't run the company and they don't make decisions for the company or stop decisions because something might be a bad deal for the shareholders. Conflicts of interest and self-dealing are not illegal if properly disclosed.