The SEC has endured much criticism of its practice of bringing big headline cases and then settling them for cash payments from corporations, without punishing any of the humans involved.
In practice, defining the difference between reasonable criticism and improper influence may prove every bit as difficult as drawing a precise line between perception and reality.
In recent years criticism of banking secrecy has centred on the risk of money laundering, the practice of disguising funds from illegal sources by passing them through secret accounts until their origins can no longer be traced.
The NYPD's practice of stopping, questioning and sometimes frisking hundreds of thousands of people on city streets each year has received widespread criticism.