Gary Gensler: “I think that is what we are trying to do is to ensure that the public is not defrauded and what stands behind those…”

It is rife with fraud, scams, and abuse.

That is because--and with all respect, that is because they are choosing to try to not comply with U.S. law.

Actually, sir, we follow the mandate. In 1996, Congress put in our statute that we had to do economic analysis, and we follow that.

I think that the Congress' wisdom was to have an agency to oversee disclosure-based markets where issuers are asking the public to buy and sell their securities.