The central genius, IMHO, of the US Constitution is the built-in trilemma (separation of powers, court vs legislature vs executive), which has proven more durable. (Present circumstances notwithstanding, ahem.)
What would a trilemma for regulations look like? Give "the market", in the form of consumer advocates, a seat at the table?
I still have no idea.
I've asked everyone I can think of. Famed muckraker Greg Palast's, who has direct experience trying to thwart regulatory capture, answer was "more transparency, more participation".
Which I find very unsatisfactory. Having done the whole agitator, whistleblower routine, it really isn't sustainable for outsiders to serve as the counterbalance. It occurs to me each of the three parties needs some kind of veto power.