[EugeneG]

JPMorgan and friends are so hyperregulated they literally have regulators who sit in their offices, company officers who are required to report to regulators on a whim, regular scheduled updates with regulators, audits, etc. etc. there is probably no industry more regulated than finance.

[medo-bear]

my comment was downvoted so fast i thought i accidently posted on jpmorgan's chat board :)

[atatatat]

It's pretty important to understand the difference between compliance regulation, and effective regulation.

We rarely get effective regulation — most often, it's simply hoops to jump through that new entrants and smaller competitors will be unevenly burdened by the resource cost of complying.

Barriers to entry. Facebook wants social media network regulations, and Amazon (now!, very rich) wants taxes on online purchases — and now cannabis.