The Trump SEC massively failed investors in 2020 under guise of 'streamlining' and 'harmonization,' according to SEC's own scathing report published today
The federal regulator did Wall Street's bidding and lost its compass, according to a damning Securities and Exchange Commission document.
Author Brooke Southall
December 30, 2020 at 2:07 AM
Biz Briefs: SEC cracks down anew on RIA reverse churning ~ Envestnet borrows $350 million to buy its own stock ~ Fidelity is creating a crypto waiting list while exec questions crypto ecosystem
Fed up SEC is ready to take on all nonsense at once; stock shocks, Orwell's new name game; Fidelity hosts a line dance
November 18, 2022 at 2:56 AM
December 30, 2020 — 7:03 AM
Quite the hit piece. Almost comical. “Trump’s SEC has failed us.” We need more funding for staff, because we’re overworked , our recommendations regarding diversity and ESG were ignored., and we need to protect the investing public because advisors are crooks and the public is too ignorant to recognize it. The 2009 crash requires a new department because people lost money. As if government failure didn’t cause the crash in the first place. I got through 20 pages of the 90+ page report , and could no longer tolerate the whining.
December 30, 2020 — 1:44 PM
Our established checks and balances system works. We need to realize this and minimize the power of lobbying. This administration has given the established companies too much power. Our other problem is complacency. Just because the market has risen doesn’t mean all is good. We might dislike regulators but we need them as a balance to our animal spirits.
December 31, 2020 — 2:59 PM
to Mr Wilson, The Government didn't cause the crash. It allowed the circumstances to occur that caused the crash, though lack of regulation and lax enforcement of existing regulations. It was and is the lazze faire attitude of Republicans and conservatives, in general, that is the cause of financial crises. There is no such thing as a free market, and the reality is, the less regulated it becomes, the more out of control it gets until the next crash. In which case there are always calls for more regulation.
December 31, 2020 — 11:46 PM
Yep I had my account stolen from me and wasn't able to do a thing about it the system of halting markets have made them unfair in the fact of the stock can be raised in a second after unhalting in vast amounts I was in a stock that raised from 3 to 38 in one day had the hole time from 6 to 38 it would unhalt for a second be up 5 or more dollars and repeated this process till it killed me the whole time not being able to get out due to the halting I had all my money taken and left in debt because of this corrupt system they've put in place before that system stocks would go crazy sometimes still but at least you had the choice to close while it was moving up not being stuck in it till it reacts it's high of wherever they want