Tuesday, May 5, 2026

Last week, I wrote about the idea of knowing your elected representatives. There’s a parallel connection closer to home that’s just as important; knowing your state regulators. When elected officials set direction, regulators live in the details. They interpret, implement, and enforce. They’re closer to the day-to-day realities of the market (and ideally) they’re informed by them.

At their best, these relationships aren’t inherently adversarial. They’re also practical.  A healthy marketplace depends on a few things happening at the same time: rules that are clear and workable, enforcement that is consistent, and communication that doesn’t break down when something new or unexpected comes along.

That last part is where things tend to slip. Think about the last time guidance came out that left room for interpretation. Most of us have had that moment…reading, re-reading, comparing notes, asking questions of each other, trying to figure out what it actually means in practice.

Now imagine being able to pick up the phone and talk it through with someone who understands how your business operates, and who knows you’re trying to get it right.

That can be a game-changer.

When industry professionals know their regulators, conversations tend to be more grounded. Questions get answered earlier. Issues that come up and can be resolved before they snowball into something bigger.

You see it in ways that don’t always make headlines, but matter:

  • Guidance that reflects how work is actually done, not just how it looks on paper
  • Greater consistency in how rules are applied
  • Fewer surprises when expectations or requirements shift
  • A little more trust on both sides of the table

This doesn’t mean agreement on everything. It means better understanding, familiarity, and a willingness to engage in two-way communication in order to keep something from developing into a significant problem.

But like any relationship, it doesn’t build itself. It requires showing up.

That’s part of the value of NS3. It creates opportunities for regulators and industry professionals to talk directly; not through filings or enforcement actions, but in a setting where there’s room for context, questions, and discussion.

And it’s not just about your own state. Even if your particular regulator isn’t in the room this year, there’s value in hearing how others are thinking. What issues are rising to the top? How are different states approaching similar challenges? Where are interpretations starting to diverge, or align?

Engagement helps you understand not just what regulators are saying, but how they’re thinking; making what’s coming next easier to anticipate.  You can better predict, prepare, and emerge well-versed and confident in how to navigate whatever presents itself next.

For those who haven’t yet taken that step, it’s worth considering. Not as a one-time interaction, but as part of how the industry sustains itself over time.  Because whether we’re talking about elected officials or regulators, the principle is the same: systems tend to work better when the people inside them aren’t strangers to each other.

There’s still time to join us this year in Kansas City for NS3.  We have time built into the agenda dedicated to making these sorts of connections.  And, as your hosts, we would be happy to introduce you to some state regulators who really care about understanding what it is you do, and about helping foster and sustain a healthy marketplace for everyone involved.

Until Next Time,

Mary Schuster
Chief Knowledge Officer
October Research, LLC