I worked for a company that the owner was a certain religion of a country that was formed in 1948. He stole & did so much illegal activity made tens of millions & when the regulatory body that over sees the industry they would fine him a few hundred thousand which is a spit in the ocean making the illegal fraudulent activity worth it. Thats the issue!!
Same with the SEC - the companies that commit crimes get slapped with a ridiculously small fine to pay AND get to keep the profits made... no incentive to not keeping committing the crime. If I had to guess, they're giving kickbacks to the SEC folks. We have to start making all the criminals give back the diamonds.
I worked for a company that the owner was a certain religion of a country that was formed in 1948. He stole & did so much illegal activity made tens of millions & when the regulatory body that over sees the industry they would fine him a few hundred thousand which is a spit in the ocean making the illegal fraudulent activity worth it. Thats the issue!!
Same with the SEC - the companies that commit crimes get slapped with a ridiculously small fine to pay AND get to keep the profits made... no incentive to not keeping committing the crime. If I had to guess, they're giving kickbacks to the SEC folks. We have to start making all the criminals give back the diamonds.
The issue is if Finra or the SEC puts a broker/dealer out of business their stream of revnue to fund themselves dries up.