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FINRA is a non-government, industry driven (self-regulatory) organization for the US stock market. It exists to discourage fraud and bad practices without requ
by tcbawo 8y ago
FINRA is a non-government, industry driven (self-regulatory) organization for the US stock market. It exists to discourage fraud and bad practices without requiring a heavy hand of government. The SEC mostly focuses on lawbreakers. Internet companies would do well to create a similar, open structure before government steps in to over-regulate.
- catern 8y agoHmm, if you directly translated FINRA to internet companies, new startups would have to be licensed with the internet SRO (self-regulatory organization) before they could offer services to the public. That's an interesting idea, is it actually what you are suggesting?
- tcbawo 8y agoI don't have a concrete proposal. I was just trying to illustrate that there may be a model inbetween total and zero regulation. The line of demarcation could be storing personally identifying information, interfacing with advertising networks, or maybe even ownership of certain patent/intellectual property rights.