While his predecessor spent his time cleaning up the "stench" of the finance company failures, Financial Markets Authority boss Rob Everett has overseen the implementation of new laws that try to ensure that level of catastrophe doesn't happen again.
Since joining the regulator in February last year, the FMA chief executive has supervised the introduction of capital market rules that had been in the pipeline for years.
The FMA, after some of the changes came into force in April last year, now has tools that allow it to proactively stamp out misleading conduct in the market.
And law firm Chapman Tripp last month said the level of recent enforcement action from the FMA showed it was "increasingly prepared to flex its regulatory muscles".
This high level of activity, Chapman Tripp suggested, might become the "new normal".