Sadly things haven't changed a whole lot since that was written. Yes we are now at T+2 rather than 3 but the regulators who know full well what is going on continue to look the other way handing out wrist slap fines from time to time.
They have been captured by the opportunity for big money jobs working for those they supposedly regulate when they choose to opt out. Most investors don't have a clue as to what is going on and would not believe this could be happening in America if told of it. Sad commentary. Go IPIX!!!