Usually when an action like this happens, the powers that be ARE NOT thinking about the average investor, they are thinking how can we keep the major benefits of investing to the "Ultra Rich" and thereby avoid any "Gamestop" activity and exactly time the market for their own wealth. Do I think it is important for any security to have full disclosure? The answer is yes. But often it is accompanied by extensive non-pertinent legalese - the purpose of which is to be so wordy and obtuse that it is mostly not read. Example #1: This product may have wide value swings. Example #2 The managers of this product may collect commissions. Etc. Etc. If, for instance a product could legally seek additional monies from an investor, that should be spelled out. As a service, offering videos to Jane & John Q would be great, but PLEASE do not hamper our ability to use the market to it's fullest advantage.
Leslie Lynn Comment On Regulatory Notice 22-08
Usually when an action like this happens, the powers that be ARE NOT thinking about the average investor, they are thinking how can we keep the major benefits of investing to the "Ultra Rich" and thereby avoid any "Gamestop" activity and exactly time the market for their own wealth. Do I think it is important for any security to have full disclosure? The answer is yes. But often it is accompanied by extensive non-pertinent legalese - the purpose of which is to be so wordy and obtuse that it is mostly not read. Example #1: This product may have wide value swings. Example #2 The managers of this product may collect commissions. Etc. Etc. If, for instance a product could legally seek additional monies from an investor, that should be spelled out. As a service, offering videos to Jane & John Q would be great, but PLEASE do not hamper our ability to use the market to it's fullest advantage.