The ostensible goal here is to change behavior, to get people to stop this nasty
This brings me to a larger issue of politicians' temptation to enact new laws and regulations to change behavior -- which they of course can take credit for -- in contrast to the much harder and inglorious task of enforcing existing laws. There is some behavior that cannot be stopped. That is why we have prison. If some of the critics of the Securities and Exchange Commission are to be believed (and I for one do not give the SEC a pass at all, see my earlier post on the "fools" at the SEC), the Bernard Madoff fraud only happened because the existing laws weren't strong enough.
(This is the time to imagine the deeply-intoned voice of Don Pardo saying, "But if our laws had been on the books, this would never have happened.")