> The only action till now, as far as I know has been one of the outright frauds
Thats what they typically do and there are bigger fish to fry
https://www.sec.gov/litigation/litreleases.shtml
https://www.sec.gov/litigation/admin.shtml
https://www.sec.gov/divisions/enforce/friactions.shtml
Their mandate isn't to maintain the social and economic order like a verbatim press release from the Communist Party of China, their mandate is investor protection. They have tools and a wide degree of discretion, and that doesn't usually mean crashing market sentiment.
