I agree with the author, but I don't think that dissolving the SEC will solve the problem of the SEC. The SEC is corrupt, but no one cares enough to fix it.

I think the way to do it is to create an new exchange whose primary focus is to create a level playing field for all participants. This means that things are done fairly, and people won't game the system. Anyone who games the system will be forbidden from trading on it. This also means that they will enforce their own rules at a stricter level than what the SEC would regulate at.

If investors are truly concerned about fairness in the system, then eventually, an exchange like this could get enough liquidity to compete against NYSE and NASDAQ.

If you read "Dark Pools" by Scott Patterson, he describes how Island was created by a lone hacker, Josh Levine, and he completely disrupted the industry. Maybe there's room for another disruption, along the lines of fairness.