I call BS on that.
Many complaints were filed against GOIG and SAVW. The SEC and FINRA did nothing. FINRA also allowed SAVW to perform a 1:1,918 R/S on its stock.
CEO in both companies: Isaac "Ike" H. Sutton
Actually, the SEC is pretty much guaranteed to thoroughly review every reporting company's filings and disclosure every three years, but it can be sooner. They also will perform spot checks in between, and problem companies or management will draw more frequent reviews. And if they receive complaints from the public about specific questionable behavior or questionable filings, it may result in a special review.
... Then the sheep broke out into a tremendous bleating of "Four legs good, two legs bad!" which went on for nearly a quarter of an hour and put an end to any chance of discussion.
George Orwell, Animal Farm