Liable to get on the SEC, and industry's bad side. Regulators are (intentionally) designed to be able to exert pressure with a lot of discretion. The financial

Liable to get on the SEC, and industry's bad side. Regulators are (intentionally) designed to be able to exert pressure with a lot of discretion. The financial industry is having a ferocious rage fit. The NASDAQ CEO even went on air calling for immediate SEC regulation... the irony didn't even seem lost to him. Getting on the industry and SEC's bad side is the liability, and that kind of pressure is a big part of hw the SEC actually "regulates." It isn't strictly through rules.