The 'iron ring' would pinch a chook from a blind eagle and anybody sitting in the wings would be similarly afflicted. The 'poison spittoon' needs renewing, not just emptying, and I would suggest Mike Smith would be a very suitable candidate to at least give industry a modicum of hope for the future. The immediate problem is that industry simply doesn't trust the regulator. Again, Mike Smith has proven credibility and is someone capable of re-engineering that respect lacking for so long.
Failing that, the floggings will continue until morale improves.