May play a role but the SEC has been useless for decades my friend. They missed Madoff with all the evidence right in front of them, they let over the counter derivatives go wild in the years leading up to 2008, they’ve let tesla and Elon musk make a mockery of financial markets with blatant fraud (dating even pre trump), they’ve lot Chinese companies be publicly traded despite their awful track record of fraud and different auditing and accounting standards and it goes on. They’ve always been a joke.