its not about time, its about consumer protection.
if a security ( or other investment) is proven to be fraudulent, they (should) send out cease and desist notices so that they are no longer bought/sold by brokers. they should not need to follow up on such notices. however since all financial websites and brokers still list and trade these stocks they obviously have not been oficially declared fraudulent by the sec.
maybe i overestimate the severity of a scam and protecting consumers, but i would expect no less from a governing body like the sec.
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