Because it’s the SEC. It’s the favorite tool to send rich people to jail. Of all the things rich Americans should be afraid of, the SEC probably ranks near the top, short of physical threats.
RE: Elizabeth Holmes "This is pretty standard practice with the SEC. The regulator explains on its website that, while it works with law enforcement agencies, it's investigations lead to civil or administrative actions. It routinely penalizes brokers and traders by banning them from working in the industry or accepting outside money. "
https://www.businessinsider.com/will-elizabeth-holmes-go-to-...
Living in America :)...
I'm very glad that a number of countries require nothing more of public companies than timely disclosed financials.
Americans, are you happy with your country very likely having the world's most complex securities laws?