This rule is disrespectful and elitist. There are unlimited resources online, many free, that can educate people about all investment products. Rules designed to "protect" investors simply enrich and entrench the wealthy. There will always be "gamblers" who invest unwisely, but the extreme overreaction of this proposed rule is not the answer. All investment products should be available to all people. Consider instead simply strengthening warnings, but do not create second-class investors.
Jason Haller Comment On Regulatory Notice 22-08
This rule is disrespectful and elitist. There are unlimited resources online, many free, that can educate people about all investment products. Rules designed to "protect" investors simply enrich and entrench the wealthy. There will always be "gamblers" who invest unwisely, but the extreme overreaction of this proposed rule is not the answer. All investment products should be available to all people. Consider instead simply strengthening warnings, but do not create second-class investors.