Sometimes miracles happen. To wit, the Securities and Exchange Commission finally has a full complement of five commissioners again.

Finally, at least in theory, the SEC can address all the financial reporting and corporate governance issues it has been dodging for nearly a year. That list of issues is long, and nobody truly knows what the Commission is likely to tackle first, or even at all. So this month, let’s just run through the big questions facing the SEC and engage in some rash speculation about what the answers may be.