Self reply as I could've explained the SEC thing better:

Anti-fraud regulators like the SEC give an inherent trustworthiness and credibility to CEOs and other market participants. You can trust that they're not lying to you, because they would be sent to jail if they were.

Another example are general anti-fraud regulations; Consider how one would trust North American or European steel suppliers more than Chinese steel suppliers.

It's not that the Chinese are "evil lying people" and Americans are "saints who never lie", it's that you can trust American, Canadian, and European courts to hold the liars accountable by regulations even if you're not in any of those regions. But the Chinese liars won't be held accountable by regulations.

Thus also the opposite, if someone opts out of this credibility granted to them by anti-fraud regulations, their words may not be quite so truthful.