Not only that they admitted in the open that they had a computer glitch and were unable to detect the billions of shares trading daily as the counter was off the scale!!!
What? It was Jeffries that had the computer problem, not the SEC.
If the SEC hired some real programmers to automate a lot of their tasks it would free up their staff...
I agree with that one. The SEC has always been technologically impaired. Their damned search engine is still extremely frustrating to use, though it's better that it once was. They could do a great deal with increased automation. They could, for example, force all Pinkies to submit fairly simple financial reports. They could use electronic forms that would instantly be scanned for red flags, and compared to older filings for inconsistencies. I think that would put an end to a lot of nonsense.
if their computer found a pink sheet is worth as much money as significant stock on NASDAQ and with very high daily trading then they could to concentrate their resources on monitoring these types of stocks.
CMKX was never "worth as much" as a significant Nasdaq stock, by any standard. What's called "unusual volume" is tracked by FINRA, then the NASD, and I don't know why they didn't pick up on it. Or take an interest in it.
Why is the SEC not taking advantage of technology to track repeat offenders and which stocks they are involved in ???
Again, a good question. They should be doing that. Last spring, the SEC's OIG put out a report about the deficiencies of the Enforcement Division. One problem was that different regional offices might be working on cases involving the same offenders and never know it.
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