Exactly and when the regulated schmoozes the regulator, what else could the regulated be trying to sell other than various flavors of corruption? That is why, in this case, the schmoozing can only come at the detriment of society as a whole, and it is a significant example of how rampant regulatory capture is in our society.
"I've been invited to boxes by vendors before"
If I were a stock holder of your company then I would take issue with that because part of the price your company is being charged by that vendor covers such activities (which either reduces dividends or intrinsic value of the company). It is simply a form of wealth transfer to the corrupt and a textbook example of the principle-agent dilemma (unless you are both in this example).