For critics such as me, part of the explanation for the failure of regulation is found in the construct of FINRA as an SRO.
FORBES: FINRA CEO Ketchum's Speech And The Shortcomings Of Self Regulation
The failure of regulation is not due to lack of effort.
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But Labour claimed the report confirmed "institutionalised dysfunction" at the heart of RBS, with a "collective failure of regulation not just in Britain, but around the world".
In one of his recent Reith lectures entitled the Darwinian economy , Professor Ferguson argued the financial crisis was not the result of de-regulation but rather a failure to enforce the regulations that existed.
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Shadow chancellor George Osborne blamed the government for what he called a "catastrophic failure of bank regulation", contributing to the "longest and deepest recession" since the 1930s.
If certain derivative trades are as risky as those who seek more regulation suggest, and if a poor trade threatens one or both parties with penury, isn't the possibility of failure all the regulation that is needed?
The failure of self-regulation is apparent and investors are calling for diligent, unconflicted regulators.
The failure of this FDA regulation has been discussed at length in the BMJ, in JAMA, and in many other outlets.
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It was (and is), for example, a chronic failure of international bank regulation that the debt of Italy, Spain, Germany and so on was classified by financial regulators as completely safe and without risk after monetary union - which gave an unhealthy incentive to banks to lend to these governments (in the jargon, the government bonds of these countries were given a zero risk-weighting).
Today, there is abundant and compelling evidence that shows the failure of prevailing norms of utility regulation and grid governance by many if not most metrics.
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"Only in the twisted world of railway regulation could a 10% improvement be damned as a failure, " a senior Railtrack source told the BBC.
As for its offensive struggles, Philadelphia's failure to score two or more goals in regulation over four games is the team's worst stretch since a four-game span from Jan. 24-30, 2003, according to STATS LLC.
If self regulation is, in fact, a workable model, then why has it been such an abject failure?
FORBES: FINRA CEO Ketchum's Speech And The Shortcomings Of Self Regulation
After the failure of the Press Complaints Commission to tackle the phonehacking scandal, the future of press regulation is up for debate.
"The combination of a wholly unrealistic time frame for responses along with a failure to seek an independent and comprehensive market impact assessment from Ofcom demonstrates disregard for the principles of good regulation, " he added.
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