Do you really think the SEC would start an enforcement action of any kind with a major bank without first making a phone call to see if the issue can't be clear

Do you really think the SEC would start an enforcement action of any kind with a major bank without first making a phone call to see if the issue can't be cleared up? Where do you think SEC staff go after they leave the SEC, and what do you think they make there? The SEC makes those enforcement actions against major banks that it _has_ to. The other stuff gets quietly dealt with. The SEC cannot allow something like this to operate with cash at play, but the whole thing should have been cleared up with a couple of visits and phone calls.