The group asked the two largest self-regulatory organizations for data on what their regulatory units cost.

Data from the 10 self-regulatory organizations show that in most years, about half of all customers win their cases.

Another showed what was required by the self-regulatory organizations and the exchanges.

That is one of the inherent tensions in what the law calls a private "self-regulatory organization."

The recommendations will be informally discussed with the self-regulatory organizations in the months ahead.

In United States securities law, a self-regulatory organization is a defined term.

The profession's self-regulatory organization is working to overhaul the ethics rules.

A huge backlog grew of proposed rules for the exchange and other self-regulatory organizations.

"In light of the new information that has been disclosed, I question whether the self-regulatory organizations will do enough," he said today.

It appears that self-regulatory organizations will be divorced from markets to a greater extent than they have been.