I was a high level government regulator for many years. Self regulation, in my view, is the best approach. In environments where stakes are high and a significant percentage of the players cannot reasonably be trusted to act responsibly, self regulation can be risky and, at the least, seriously bothersome.
This community, however, is just about perfect for self regulation. The vast majority of the players (so to speak) are not about to attempt to use the forum for their advantage and at the expense of others. If some folks (usually SpamBots) attempt to worm in with bodily function ads and the like, the posts are quickly pounced on and deleted by the moderators.
I realize that these posts can be viewed as unwelcome intrusions into an otherwise "safe" place, but these SPAM posts are not worth taking as a personal affront. They are an impersonal fact of life today are are worth much less than the time we have spent on them.