Sophisticated investor rules are outdated in the age of the internet. I have multiple degrees related to investment and financial analysis. Under the Sophisticated investor rules I cant invest in certain opportunities, and now you want to expand that? Excluding the average American from any investment opportunity does nothing but ensure that those who are already wealthy will continue to gain the majority of the benefit from private investments. And under the proposed changes will ensure they have an unfair advantage in capital markets as well. It is not a regulators place to tell the citizen; the people you serve, they are too dumb to invest. Your place is to ensure that businesses are not taking advantage of consumers, stealing from them, etc etc... Free markets need to be left free; banning investors on the basis of wealth or level of education is tantamount to discrimination. Be ashamed of yourselves.
Logan Goforth Comment On Regulatory Notice 22-08
Sophisticated investor rules are outdated in the age of the internet. I have multiple degrees related to investment and financial analysis. Under the Sophisticated investor rules I cant invest in certain opportunities, and now you want to expand that? Excluding the average American from any investment opportunity does nothing but ensure that those who are already wealthy will continue to gain the majority of the benefit from private investments. And under the proposed changes will ensure they have an unfair advantage in capital markets as well. It is not a regulators place to tell the citizen; the people you serve, they are too dumb to invest. Your place is to ensure that businesses are not taking advantage of consumers, stealing from them, etc etc... Free markets need to be left free; banning investors on the basis of wealth or level of education is tantamount to discrimination. Be ashamed of yourselves.