[mananaysiempre]

The SEC’s job is the integrity of the securities market. The user would be the concern of a consumer rights authority (the FTC) or a privacy protection one (I don’t think the US has one of those on the federal level?). That the SEC is the way we learn about these things is nothing more than a relatively recent hack, and how widespread the damage from that hackery is going to be is not yet clear.

(E.g. “money laundering” seemed like a reasonable hack for the first couple of decades, but these days banks have turned into an surveillance and enforcement apparatus with a presumption of guilt and no right of appeal.)