And why shouldn't the SEC need a warrant just like the FBI does?

Because the SEC regulates publicly traded companies. If you wish to keep your email private simply don't go public.

> the SEC regulates publicly traded companies

Nope. The SEC regulates all securities issued by American companies or to American investors. Tesla and SpaceX are both SEC regulated.

IMO, there is not much difference in regulating public stock and public debt. If SpaceX wants to borrow from bank of America fine, but if they want to issue trade-able bonds and borrow from John Q Public that's a separate thing.

PS: Arguably this is the same reason banks are regulated.

Leave it to HN to find the cloud in every silver lining. :)

That said, perhaps you have a point...

With the ACLU and EFF backing, I'm not finding any significant negatives. On the other hand, this bill is so overdue that it leaves me wondering.

It's pathetic but I wouldn't put it past our elected officials to do this.