I can tell you haven’t worked in a regulated industry, there is almost no regulation.
Most of the stuff you list is simple stuff done to meet KYC rules that most exchanges were initially delinquent in implementing and only did so when it was pointed out the obvious liability they were taking on not implementing them.
For regulated securities products there are all sort of approvals needed from the product itself to the marketing materials. There are rules about suitability of the product, transparency over commissions and fees, licensing and registration of market participants, market data rules.
That’s all just the tip of the iceberg.