The paper develops an architecture for regulatory institutions that could be feasible in the current Russian context. The paper examines two specific areas: first, establishing a regulatory oversight unit, located at the centre of government, responsible for the strategic co-ordination of regulatory reforms and oversight of regulatory quality; and second, redefining the mandates and strengthening the capacities of the competition authority and regulators of network industries. The paper draws on OECD experience and provides a number of lessons which could direct Russia’s future efforts in regulatory reform onto a track more similar to the one observed across the OECD.