I've said that over and over. If they knew what they were doing...they wouldn't be working there. SEC is the dumbest regulator on the planet. We could save a fortune by just shutting them down. Their regulation is meaningless and a waste of time. It's like a damn puppet show. Started after the internet bubble and they think they are in charge of a free market.
They want HFT's to pose as MM's in order to attract more liquidity. Meanwhile the 25k PDT rule sucks TONS of liquidity out of the market daily. They haven't a clue what they're fucking doing.