It's easier said than done and the devil is always in the detail, to offer a few platitudes.
One option is to, first of all, make it explicit, so that there's legislative intent signalling that conflict of interest is a live issue that will be safeguarded against. Again, there is helpful language on that front in the recently amended Canadian Energy Regulator Act. Then it would be a matter of systems and practices to safeguard against that.
Disclosure can go a long way. As long as actual or perceived conflicts are disclosed and everyone consents to that—and that's sort of the price of admission, in this expert's view—then all can be above board and well.