I've gotten down voted for this opinion in the past, but US equity broker-dealers have created self-regulatory bodies like FINRA with sensible auditing, rules w

I've gotten down voted for this opinion in the past, but US equity broker-dealers have created self-regulatory bodies like FINRA with sensible auditing, rules with teeth, and certification processes simply to avoid being micromanaged by the SEC. This has worked fairly well at limiting many client/insider abuses. The large internet companies would do well to put something like this together as a buffer instead of praying against government policy intervention or antitrust proceedings.