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The Failure of Self-Regulation

By Carolyn Moskowitz

In the current issue of The Pomerantz Monitor, Joshua Silverman reports on self-regulatory organizations (SROs). In 1938, then SEC general counsel Chester Lane told a group of bond dealers that the Commission believed that the job of regulating broker-dealers ?can best be handled ? by placing the primary responsibility on the organized associations of securities dealers throughout the country.?  Ever since, the financial services industry has spent billions of dollars on lobbyists ($101 mil read more

Full post as published by PomTalk on September 06, 2012 (boomark / email).