Professional ethics is one prime realm of social life that many believe must be placed under stringent public scrutiny. This chapter argues that a clear understanding of what ethics involves and how it bears on professional ethics does not justify the kind of governmental supervision many in society deem desirable and even necessary. Concerning the specifics, philosophers as philosophers can say very little, but from the philosophical ethics of egoism it is possible to appreciate the general rationale for professional ethics as such. The binding character of professional standards stems from the personal resolve that should accompany a bonafide, freely made or voluntary choice of one’s profession. The distinction between coercion and voluntary interaction can get hazy in certain regions, especially when the legal mechanism has not had the chance to explore an area of human action and to develop the criterion for peaceful versus hostile interaction.