Earlier quoted context omitted.
The SEC isn’t regulating banks generally so bank account balances shouldn’t matter much - they are regulating security markets no? So looking at discrepancies between data from market participants IS verifying and regulating. Same as if the FDA looked at raw study data and compared it to equivalent studies for similar types of drugs/treatments, or the FAA had an engineer on staff to double check elements of a new des…
I meant to imply that the SEC could check companies' bank accounts to verify the truthfulness of balance sheets and income statements.
That I somewhat like counting the number of bolts ordered and delivered by Boeing to ensure they are staying compliant with building their airframes.
If they never order any, or there aren’t many arriving where you expect, is that a problem? Sure, though it’s probably a subcontractor ordering them, or they haven’t bought any when you were looking because they have a large stockpile, or whatever.