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The phrase "a wave of regulation" is correct and usable in written English.
It can be used to describe a sudden increase or surge in regulatory measures or laws within a specific context, such as government policy or industry standards.
Example: "The financial sector is currently facing a wave of regulation aimed at increasing transparency and accountability."
Alternatives: "a surge of regulation" or "an influx of regulation".
Exact(3)
The financial crisis has produced a wave of regulation to make the banking system safer.
Disgust with unsavoury abattoirs in the early 20th century led to a wave of regulation in America.
The freewheeling atmosphere evaporated when the 1929 stock market crash brought on a wave of regulation that transformed many businesses, most notably banking.
Similar(57)
The broader futures industry now faces a wave of regulations that seek to avert a repeat of MF Global's sins.
Cities responded with a wave of regulations that swept the jitney movement out of existence.
As a result of the activism leading up to and out of Earth Day, we have seen a wave of regulations passed: the Clean Water Act, the Clean Air Act, the Coastal Zone Management Act, and more.
A wave of government regulation?
A wave of government regulation in the 1960s and 1970s brought big potential costs to many U.S. industries.
And, in the wake of the crisis, it seems certain that finance will face a wave of new regulation.
Hedge funds are also expecting a wave of new regulation from Washington, including an increase in taxes and requirements to disclose more information about their holdings and performance.
The more stringent environmental reviews are part of a wave of new regulation and legislation that promises to fundamentally remake an industry that has operated hand-in-glove with its government overseers for decades.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com