We cannot lose sight of the reason for compliance and the "spirit" in which it exists. But we need to recognize that we need a new way to maintain the regulatory spirit and discard those ideas that are no longer relevant in a world of Facebook, Twitter, LinkedIn, blogging, social media, posts, 'likes', endorsements, comments and opinions, all of which appear in real-time.

Although the bills making up the JOBS Act are typically described as "non-controversial," they have been severely criticized by leading securities law experts and are opposed by investor advocates and unions, among others.

I'm left to wonder, what is the source of SIFMA's sudden cost-consciousness? Because I don't seem to recall ever having heard the association express similar alarm over the costs to investors of the $20 billion or so Wall Street manages to scrape together for bonuses each year.

WASHINGTON - Elizabeth Warren pressed consumer advocates to fight on behalf of the newly created consumer protection bureaus she's heading up, warning...