Meanwhile, SIFMA, the securities industry trade association, has pretty consistently been an unwavering mouthpiece for minimal regulation, and locating any regulation in New York when it is unavoidable, as with the DTCC and the LEI.

FORBES: Dog Bites Man -- Finance Needs Greater Leadership Says ISITC

One almost laughable example of lame self-regulation: the BrokerCheck Program, run by the National Association of Securities Dealers, the brokerage industry's self-regulator.

FORBES: Magazine Article

Robert Glauber, chairman of America's National Association of Securities Dealers, reminded the finance industry during a visit to London last month that bouts of punitive re-regulation by angry authorities can be long-lived.

ECONOMIST: Investment banks