The SEC's Role in the Enforcement of 13F Filings

The judge only has so many options. And if a guy's not going to listen to him telling him, then he's going to start saying, okay, community service. You didn't hear me there. There's some jail time. These things only go in one direction and it's up. So I would expect that a judge looking at an entity like the church who has been caught red-handed, violating the 13 F filings in order to hide how much money they have. The penalties are going to increase. They have to. Otherwise, the court loses all credibility.