Reliance on self-regulation The commission is ever more willing to allow the brokerage industry to self-insure, self-adjudicate (through mandatory arbitration) and even control public access to the brokerage industry's criminal and disciplinary histories.

FORBES: The Irrelevant SEC

Instead of stretching his talents, Jones slipped into cruise control, honouring meaningless mandatory defences of his various titles rather than mixing it with live opponents.

BBC: Jones out to prove his greatness

The brokerage industry is unique in that it has been permitted to self-regulate with limited SEC oversight, self-insure through the Securities Investor Protection Corporation, self-adjudicate through mandatory NASD Dispute Resolution arbitration, and even control, through the NASD Public Disclosure Program, the information the public receives about firms.

FORBES: Investigating Brokerages (May 1, 2002 )