Complex sentence: He thinks that a preemptive regulation will prevent some pro-competition arrangements that businesses could make, whereas reactionary regulation, which will be based upon actual infractions of the law, will provide the best balance of consumer protection and pro-competition.
Split into simpler sentences: He thinks that a preemptive regulation will prevent some pro-competition arrangements that businesses could make. Whereas, he believes that reactionary regulation, which will be based upon actual infractions of the law, will provide the best balance of consumer protection and pro-competition.