Globally aquaculture is seen as an increasingly important component in the quest to achieve food security in light of such drivers as a decline in capture fisheries, an expanding global population and climatic change. However, it is widely recognised that in many countries poor regulation acts as a major constraint on the development of the sector. This paper, using the Irish oyster industry as an example highlights not only how regulation can be seen as a significant source of risk in itself to aquaculture, but also how it also increases the level of other risks to the successful development of the sector. Mechanisms for increasing the resilience of the sector by dealing with these risks are reviewed and two possible approaches (supporting collaborative action and backing selected producers) to strengthening the structure of the industry are considered. Both approaches are shown to have strengths and weaknesses