By law, the SEC is only empowered to suspend trading on an individual stock for up to 10 business days. That's it. Many years ago, they did back-to-back suspensions and were sued. The case went all the way up to the Supreme Court which ruled against the SEC for imposing multiple suspensions using the same reason. If you don't like this limitation they have to operate under, recommend complaining to Congress and the President to change the law.
Broker-dealers have a responsibility though not to trade fake stock and to comply w/ Rule 15c2-11. My guess is this is what we'll probably see kick in.
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"We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."
-- Warren Buffett