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Dwight Smith Comment On Regulatory Notice 22-08

Dwight Smith
N/A

Investors shouldn't have to go through any special process like passing a test before they can invest in public securities, including "complex products". The disclosure-based system currently in place provides adequate protections.

All definitions and language in regulations should be clear, precise and limiting. Wording that is broad, arbitrary or vague empowers bureaucrats; it does not protect investors.