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some questions about self-regulation and compliance May 26, 2011

Posted by Bradley in : financial regulation, Uncategorized , trackback

Why, on recent flights between Miami and Newark, was it necessary for the pilot to threaten passengers that the flight would not be able to land or take off if they did not comply with instructions to turn off electronic devices (I know there’s controversy about whether this requirement is necessary but it is a requirement and non-compliance imposes costs on the passengers who do comply)?

Why is the SEC backdating documents (OIG Report stating the SEC’s Office of Administrative Services backdated a justification an approval of the SEC’s lease of premises)?

Is there a connection between citizens’ carelessness about paying attention to the rules and a regulatory agency’s carelessness about compliance with formalities? I suspect so.

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