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The SEC isn't the DOJ. They can't enforce criminal penalties. Their agency is pretty restricted in what they're allowed to do; the strictest penalties they're a

The SEC isn't the DOJ. They can't enforce criminal penalties. Their agency is pretty restricted in what they're allowed to do; the strictest penalties they're allowed to enforce include barring people from: * Managing securities * Being on the board of directors of a public company * Being an executive of a public company If your complaint is that people don't feel enough pain from their actions, blame the DOJ not the SEC. > Occasionally, they send someone to jail to prove a point (Martin Shkreli) To reiterate, Martin Shkreli was charged by the DOJ, not the SEC.

toomuchtodo 8y ago
My point was that the SEC either doesn't have the teeth or doesn't care to have any meaningful impact in protecting investors, and I think I proved that point based on their enforcement statistic. "Stop! Or I'll take a bit of change from your pocket and say stop again!" Your point about Shkreli is taken. I agree he committed a crime, I disagree it deserved prison time.
- wgerard 8y ago
  I guess, I feel like all you've shown is that the SEC's teeth have been filed down the past couple years. That makes sense to me given the current administration's overall stance towards regulation and enforcement. It's well in line with other enforcement agencies similarly being neutered under the current administration, and doesn't necessarily portend anything for the future (EDIT: Beyond the next two years, obviously).
- true_religion 8y ago
  Sure the SEC, does not have broad enforcement powers but most federal agencies don't. The FBI famously chases down serial murderers, but they can't charge them with crimes either. Most agencies have a police wing, but like most police, they refer your case to the DA who may charge you. If Citi isn't charged here, then it's the DOJ at fault. They got the investigation report and chose not to act.

toomuchtodo 8y ago

My point was that the SEC either doesn't have the teeth or doesn't care to have any meaningful impact in protecting investors, and I think I proved that point based on their enforcement statistic. "Stop! Or I'll take a bit of change from your pocket and say stop again!" Your point about Shkreli is taken. I agree he committed a crime, I disagree it deserved prison time.

wgerard 8y ago
I guess, I feel like all you've shown is that the SEC's teeth have been filed down the past couple years. That makes sense to me given the current administration's overall stance towards regulation and enforcement. It's well in line with other enforcement agencies similarly being neutered under the current administration, and doesn't necessarily portend anything for the future (EDIT: Beyond the next two years, obviously).
true_religion 8y ago
Sure the SEC, does not have broad enforcement powers but most federal agencies don't. The FBI famously chases down serial murderers, but they can't charge them with crimes either. Most agencies have a police wing, but like most police, they refer your case to the DA who may charge you. If Citi isn't charged here, then it's the DOJ at fault. They got the investigation report and chose not to act.