[dspillett]

> You do not want regulations forced on you, that is bad for the bottom line.

Also, self regulation can be safer in terms of come-back.

Where under an external regulatory pressure a misstep might result in some form of fine or at least a public outing. With self regulation many things can be more easily wrapped up with "oops, butter fingers! sorry, won't happen again" and all that might be more readily kept internal rather that having some form of issue reporting requirement enforced by the regulations.