At least one regulator at the conference expressed sympathy for that view.
"I know you won't believe me when I say this, but my colleagues and I spend a lot of time arguing against individual liability" in some anti-money laundering cases, said Sarah Green, a senior enforcement director at the Financial Industry Regulatory Authority, Wall Street's industry-funded watchdog.
Green said she sometimes urged investigators who prepared anti-money laundering cases that included individuals to focus solely on the firm instead, based on the facts and circumstances of each case.
Some cases simply weren't severe enough to merit action against specific people, she said: "It has a lot of implications for careers."