Regulating the stocks and investments the average American can invest in is the most asinine ideas I have ever heard. The fact that in order to trade a "complex product" I would need to take test and read certain materials, be wealthy, and get special approval from a broker is the worst form of gatekeeping. Not only would you be stopping a large amount of people from investing in certain stocks because you believe them to be to stupid, you would also likely drive many people to sell their stocks and leave the market entirely out of fear that they may not be qualified to continue to invest. The term "complex product" is also vague and a term that could be easily abused. The idea of gatekeeping a free market sounds like something Blackrock Investments and Rockefellers came up with.
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Alex Orth Comment On Regulatory Notice 22-08
Regulating the stocks and investments the average American can invest in is the most asinine ideas I have ever heard. The fact that in order to trade a "complex product" I would need to take test and read certain materials, be wealthy, and get special approval from a broker is the worst form of gatekeeping. Not only would you be stopping a large amount of people from investing in certain stocks because you believe them to be to stupid, you would also likely drive many people to sell their stocks and leave the market entirely out of fear that they may not be qualified to continue to invest. The term "complex product" is also vague and a term that could be easily abused. The idea of gatekeeping a free market sounds like something Blackrock Investments and Rockefellers came up with.