The Independent Commission’s findings against Manchester City have drawn attention to parts of regulation that are usually overlooked. The Premier League relied on the accounts it was given and could not look for itself. The harm fell on identifiable rivals, so the public interest was unusually easy to see. And justice was slow enough that some of UEFA’s charges were time-barred. Gavin Stewart argues that each lesson reaches well beyond football, to the new Independent Football Regulator and to the FCA and PRA, whose skilled person power is now under pressure in Parliament.