A simple solution to financial regulation is to allow anyone to raise a practice objection when done within a context of a formalized process. The new process could result in a temporary stay on the new practice and force a review by a regulating agency. A temporary stay of a new practice would not impact existing established, vetted practices. Let the regulating agencies develop regulations as required by the practice objection process, dynamic process.
Broad public disclosure should be required immediately following the practice objection submission. Part of the practice objection requirement should be a commentary from the one(s) submitting the object that can be used in the public disclosure. The federal government should provide the mechanism for broad public disclosure.