I haven't read the whole thing, but it seems pretty obvious from skimming this transcript that it's all about CYA for Wall Street and if companies and investors are harmed in the process they really don't care...
No mention of the elephant in the room - NSS. All of these precautions are laid off on "anti money laundering" prevention when the truth is they are afraid to trade in pennies because there is so much counterfeit on the market that they don't know what's real and what isn't. Killing off the companies by choking off financing is easier than cleaning up their mess.