Interesting topic indeed. So often when something goes wrong, our first blame lies on the FOC, but a lot of times many make claims without doing the homework.
There are basically three components that a fishery manager looks at when make decisions - environmental, economical, political. That makes the job extremely hard as it is often difficult (more like impossible) to satisfy all three components.
In most cases, as Terry has mentioned, political influences the decisions greatly due to public pressure etc.
Also, the lack of man power. How often do you hear people complaining that conservation officers are "not doing their job" because they phoned him and didn't see any result? Enforcement sector usually goes for the bigger fish and unfortunately a lot of little fish hops through the loop hole as a result. That doesn't mean we shouldn't phone in, we should do so everytime.
Not too sure about the biggest mismanagement. Possibly the Fraser sockeye, I say possibly because a mismanagement would be the complete collaps of the fishery, which we'll find out in the next few decades. Overall I am pretty happy with our fishery management, but I am mostly involved with community outreach programs etc. My opinion might be different regarding the commercial management but I will not comment on that without further understanding it.
At least there is a management. In developing countries, these programs do not exist, and there basically isn't a future for the resource.