This article examines shifts in the regulation and governance of business crime in competition and deceptive trade practices law. It traces policies and enforcement in Canada's Combines Investigation Act/Competition Act from 1975–2005, a period of seismic shift in regulatory law during which formerly dominant Keynesian welfare-state discourses, practices, and policies were replaced by those characterizing the neo-liberal regulatory state. The Competition Bureau was a key player in this transition, by which competition policy became the primary regulatory mechanism of the modern state. The article's purpose is to analyse enforcement records, annual reports, and other documents from the Competition Bureau to show how priorities and practices have changed and to link these changes to shifts in governance associated with the transition from Keynesian economic philosophies to those of the neo-liberal state.