There's a lot of talk about what legal entity forced the closure of GLBSE. But I'm willing to bet that it wasn't closed as the direct result of any investigation.
The IRC conversation which theymos posted seems to confirm that. It looks like in the process of finding out about "legitimising" GBLSE, Nefario discovered that he was on risky legal ground regarding AML and taxation requirements if he continued operating GBLSE as-is. This is something he would have known all along - as would the other shareholders - if they'd ever consulted a fucking lawyer, like normal business people do, when they launched the project . It's not up to users to determine what legal risks service operators should take. Only the person taking the risks can determine what level of risk is acceptable to them.
Hopefully, future service operators will seek legal opinions and determine what level of risk is acceptable to them
before they start handling other people's funds - if you can't afford legal advice, you sure as shit shouldn't be trusted to handle hundreds of thousands of dollars worth of other people's funds. I wouldn't count on it though.