If the market is in fact a free market then this rule proposal would never have been proposed. A free market isn't just for the rich who can afford it. The choice to participate in the market is an individual choice that each person must make for themselves, that should not include taking a test before investing in public securities. Furthermore this will create further speculation that the market is not in fact free but actually corrupted and controlled by the rich. Each person should do their own research and understand their personal risk tolerance for themselves.
James Metzler Comment On Regulatory Notice 22-08
If the market is in fact a free market then this rule proposal would never have been proposed. A free market isn't just for the rich who can afford it. The choice to participate in the market is an individual choice that each person must make for themselves, that should not include taking a test before investing in public securities. Furthermore this will create further speculation that the market is not in fact free but actually corrupted and controlled by the rich. Each person should do their own research and understand their personal risk tolerance for themselves.