Unfortunately I think that the SEC could not care less about the pink sheet/sub penny gutter market. They did not before the current fiasco and will not after it as well. Their thought is you play with fire, you will get burnt.
Nobody ever wants regulation or govt involvement until its too late. The sec actually works to protect the market more than the investors. They will move, however (Martha Stewart) when dimes are being dropped and there is the possibility of public scrutiny or embarassment.