This presentation by Yvrande-Billon, Chair of the OECD Network of Economic Regulators and vice-president of the French transport regulator, was made during the discussion “Independent sector regulators and competition” held at the 68th meeting of the OECD Working Party No. 2 on Competition and Regulation on 2 December 2019. More papers and presentations on the topic can be found at oe.cd/isrc.