Regulators need to stop dictating what we as investors can and cannot due. The proposed regulations in rule 22-08 are akin to discriminatory voting test or other suppression tactics which have been used to disenfranchise broad demographic groups. All investments should be open to all. Regulations cannot protect us from ourselves. Restricting certain investments to high-wealth individuals or other "qualified" investors is financial discrimination of the highest regard. In the age of free-flowing information, we need to be tearing down barriers to entry to allow all investors the same opportunity instead of creating further hindrances which only benefit the wealthy and powerful.
Carlos Wylie Comment On Regulatory Notice 22-08
Regulators need to stop dictating what we as investors can and cannot due. The proposed regulations in rule 22-08 are akin to discriminatory voting test or other suppression tactics which have been used to disenfranchise broad demographic groups. All investments should be open to all. Regulations cannot protect us from ourselves. Restricting certain investments to high-wealth individuals or other "qualified" investors is financial discrimination of the highest regard. In the age of free-flowing information, we need to be tearing down barriers to entry to allow all investors the same opportunity instead of creating further hindrances which only benefit the wealthy and powerful.