A good regulator is like a guard, who looks after something and makes sure it is safe and secure. A good regulator is someone or something that makes sure all the rules and regulations are followed, and that all the rules are fair and honest. A good regulator makes sure that an area, or a group of people, behave in a proper way. They make sure that all the rules are followed and that no one is taking advantage of another person or group of people. A good regulator ensures that everyone is treated fairly.