But isn't it also the SECs job to punish those who commit fraud against investors? In my mind it is like the NYPD making it illegal to walk down the street at

But isn't it also the SECs job to punish those who commit fraud against investors? In my mind it is like the NYPD making it illegal to walk down the street at night unless you are 6'2" or above, or have trained in martial arts. After all, there are a lot of people out there who would want to take advantage of a weaker, easier target. And it also just happens to make the NYPDs job easier.