I don’t know where this perspective comes from. Reading the SEC note suggests that they are actively investigating or looking to actively investigate to see if there was market manipulation. No conclusions made as of yet.
When the market wildly diverges from steady state operations, this is an entirely reasonable thing for the SEC to do. An unstable market hurts the average person far more than a stable one.
Yeah it is essentially just a boilerplate post that just says "We heard and are looking into it" essentially. It will probably be months to years after the event for them to conclude who if anyone rose to the level of illicit market manipulation or other offenses and who would be responsible. Robinhood was at risk of being fined by the SEC for their infamous infamous leverage glitch as opposed to the users. (Not sure if it ended in a real fine as the media lost interest post patch.)
When the market wildly diverges from steady state operations, this is an entirely reasonable thing for the SEC to do. An unstable market hurts the average person far more than a stable one.