Hacker News Reader

> does not directly answer to any legislative, judicial, or executive authority.

This is patently false. The Securities and Exchange Commission accredits and oversees all national SROs.

True, but SROs have a lot less oversight than the SEC.

The SEC trusts them to regulate themselves with the understanding that they had better run a tight ship, or the heavy hand of government will come down.

Reply on news.ycombinator.com