Even if their conclusions proved valuable, it is not obvious how accountants would make determinations regarding the sustainability of intellectual property, how they would develop the expertise to do so in an objective fashion, or who would pay them to make such determinations.

Firms engaged in Regulation A+ offerings should review their compliance procedures promptly to ensure consistency with FINRA requirements.  

The problem with the adoption of rules concerning things like position limit regulation is not merely that they are harmful in themselves. It is also that compliance with such rules drains private and public resources that could be put to better use. Given the CFTC's paucity of resources, is the adoption of position limit rules the best expenditure for the CFTC? Are those rules worth their toll on the economy?

The CFTC's refusal to revisit position limits regulation illustrates both…

The financial industry was not the focus of the study but is certainly relevant to it. The implications of the study are that we should expect more exits than entries, and that the industry itself will become more concentrated.