There are things the SEC could do but apparently just don't have the recourses. There're out numbered. They count on the public to report fraud and to supply tips and leads to help in any investigation. So it helps to complain.
One big help would be to make ALL public companies SEC registrants, but congress so far has refused to make that happen. The US is the only large country, maybe all other countries, that doesn't require all public companies to register it's stock with that countries regulator.
That of course will not solve all the fraud. Another easy thing they could do is take all these companies to task when they become more than a couple quarters deliquite in filings and also suspended these obvious scams such as GRLT. This stock is an easily proven scam and there are serial fraudsters involved with it. A no brainier and all within the SEC's current tool box.
Why they don't, I don't know.
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