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I believe it is a zero sum game to try and have "no conflicts of interest" in anything. At least the SEC is now forcing a system that A) Allows their regulators to be transparent about an activity that they have done their whole life (picking stocks) B) A system that forces them to opt out of explicit conflicts of interests.

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I fail to understand your point. Why would eliminating conflicts of interest be a zero sum game? If somebody's job is to police the players, how could they do it effectively if they have a bias towards certain players? Allowing a conflict of interest destroys the purpose of their job in the first place!

My point was the zero sum game in that these SEC guys were former traders. So trying to have them not participate in the thing they were bred to do, is not practical or else they would have done it.

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