There are way too many stupid people with way too much money
"Blaming the prince of the fools should not blind anyone to the vast confederacy of fools that made him their prince." - Bernie Madoff Victim.
The common idea that the SEC could ever protect so many fools may be 'foolish'? It may be that the best way for the SEC to protect people is to continue to offer them the 'practical experience' of losing money to scammers? I'm sure those that made money on the 50 cent MOMO are happy.... the other stupid people with way too much money got no chair LOL