Which of the Following Statements About Self-Regulation of Exchange-Traded Securities

Which of the following statements about self-regulation of exchange-traded securities markets is INCORRECT?

A) It makes the markets more honest.
B) It helps demonstrate to the federal agencies that the industry is doing a good job policing itself and thus more regulatory oversight may not be necessary.
C) It deals with problems before they get wide publicity.
D) It builds the reputation of the marketplace and thus attracts high-quality customers and greater trade volume.
E) Its net costs are far more than the benefits it provides.