> If the SEC actually wanted to disincentivize future bad actors they'd prosecute rather than issue hilariously petty fines
The SEC can't prosecute. They can only make criminal referrals to the DoJ.
The SEC can't prosecute. They can only make criminal referrals to the DoJ.
That's what this announcement is. The SEC charged them. They settled. The investigation, meanwhile, provides documentary evidence for some of the wronged to pursue claims against the wrongdoers.
This is incorrect. The SEC has no prosecution authority. That means it can't prosecute. It also means it can't take criminal prosecution off the table.
Presumably the goal is to lower the number of three letter agencies investigating you.