A number of states, if not all of them, are in this same boat. Does the choice of state have to be an example have something to do with the electoral choice of the New Jersey citizens?
That was my first thought, but given this...
New Jersey agreed to settle the case without admitting or denying the SEC’s findings. The state consented to a cease-and-desist order, and wasn’t required to pay any civil fines or penalties.
it seems like a non-issue.
And a little bizarre.
The link is for the P&I story, which I seem to have failed to post in #2 above.