I would make a terrible regulator! I like to believe that people are innately honest but I have learned from experience that, once someone breaks the rules, it is not too difficult to do it again.
Is it true that one must have a slightly warped personality to be a reliable regulator? Or, put it this way, does one have to imagine the worst of people? What happens if a company is under financial strain? Might not the CEO encourage his staff to bend the rules a little; then a little more; then a little most? The bending may lead to a break.
Anyway, consider those words: see you later, alligator; in a while, crocodile! What is the message? Those who are exposed to the regulator may be sympathetic to the singer of this tune. It was certainly a big hit.