> ...occurs when a political entity, policymaker, or regulator is co-opted to serve the commercial, ideological, or political interests of a minor constituency, such as a particular geographic area, industry, profession, or ideological group.

My description was just more succinct and didn't identify every single entity that could be coopted and every single group that could benefit. Regulatory capture is unnecessary and onerous checks and balances, not the removal of regulatory checks and balances that you implied.