Government transition is one of the significant happenings for many developing nations as it leaves a paramount impact on politics, administration, economics and society. The most recent government transition was witnessed in Bangladesh when the last Caretaker Government handed over power to the present elected government in 2009. Having followed the footsteps of predecessors, the last Caretaker Government constituted Regulatory Reforms Commission (RRC) for the first time in the history of independent Bangladesh to modernize hundred years` old regulations. This paper concentrates on the findings and recommendations of Regulatory Reforms Commission (RRC) and attempts to analyze the impact of the most recent transition of government on RRC`s reform initiatives to illuminate the relationship between government transition and reform initiatives in Bangladesh. Analysis shows that RRC has also been treated as alien by the present government once the country rejoiced the government transition in 2009. It implies that the present government favored new reform initiatives over the previous ones. Overlapping in reform initiative and legal basis of RRC, constituted under a non-elected government, are two key reasons behind the demise of RRC like many other reforms in the past.