It is an investors right to be able to access the entirety of the public securities markets. To limit this to certain high net worth individuals is discriminatory and likely easily overturned in court. Why waste the public's money on guaranteed litigation? Requiring testing before allowing investment is also a barrier to entry. What if I'm someone of lesser means, do I have to pay to take this test? That's likely going to mean I could invest OR I could take the arbitrary test. Again, this is discriminatory. I am perfectly capable of educating myself on risk vs rewards and overregulation is wrong.
Kar Wong Comment On Regulatory Notice 22-08
It is an investors right to be able to access the entirety of the public securities markets. To limit this to certain high net worth individuals is discriminatory and likely easily overturned in court. Why waste the public's money on guaranteed litigation? Requiring testing before allowing investment is also a barrier to entry. What if I'm someone of lesser means, do I have to pay to take this test? That's likely going to mean I could invest OR I could take the arbitrary test. Again, this is discriminatory. I am perfectly capable of educating myself on risk vs rewards and overregulation is wrong.