ChelseaVonneJames retweetledi
THE SEC MAKES THE RULES, INTERPRETS THE RULES, AND RULES ON THE RULES: SEEM FAIR? (PART II)
The SEC Operates Under a Version of Internal Policing:
To allegedly ensure the SEC's internal operations are conducted independently and to mitigate conflicts of interest or favoritism, the agency has internal controls and procedures in place. These measures are designed to promote objectivity, integrity, and transparency.
Examples of practices aimed at maintaining independence include:
Segregation of Duties:
The SEC separates functions and responsibilities among its divisions and offices to prevent conflicts of interest and ensure checks and balances.
Ethical Standards and Codes of Conduct:
The SEC has strict ethical standards and codes of conduct that employees must adhere to. These guidelines outline expectations for professional conduct, impartiality, and the avoidance of conflicts of interest.
Internal Oversight:
The SEC has internal oversight mechanisms, including an Office of Inspector General (OIG), which conducts audits, evaluations, and investigations to promote accountability and detect and prevent misconduct.
Whistleblower Program:
The SEC operates a whistleblower program that allows individuals to report potential violations of securities laws confidentially and provides protections against retaliation.
BUT DOES THIS ACTUALLY WORK?
According to the SEC itself.... well, kina?:
While these measures help maintain the integrity of the SEC's operations, it's important to note that no system is entirely foolproof, and occasional challenges may arise.
The SEC continuously works to improve its internal processes and address any issues that may arise to ensure effective regulation and enforcement in the securities industry.
BUT DOES IS REALLY ACTUALLY WORK TO KEEP THINGS FAIR?
Well, if you believe that humans are always strict followers of any regulation put in place and would never bend the rules for their own personal gain, then, yeah, sure it works.
But in reality, this entire concept is ridiculous. And we have proof of just how ridiculous it is.......
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