Off the top of my head it might look like the following:
- identify the stakeholders
- define relevant systems with CATWOE
- do a context of use analysis of the key stakeholders
- expand stakeholders into a set of personas
- 'brainstorm' issues and likely emergent properties
- assign actions using the Cynefin framework.
The recent Conservative document on 'Regulation in the Post Bureaucratic Age' offers some clear material on how the relevant systems might be re-defined, together with other ideas.
I could not find anything helpful at all in the recent BIS document on better regulation. This blog intends to stay clear of politics, so it is best to say nothing about the report.
Regulators may not like being in the spotlight, and this may be a taste of things to come for some of them.