If people are too stupid too understand what they are investing in that is their problem, not the employees of the U.S. tax payers. Regulation should be used only in instances where predatory practices are taking place and can be proven in court. Regulation should not be used because stupid people lost money in risky investments. If you mitigate the risk in this area those stupid people will simply put their money in other high risk schemes that will burn them. Will that mean that you have to then regulate that arena as well? Where does it end?
Mark Canfield Comment On Regulatory Notice 22-08
If people are too stupid too understand what they are investing in that is their problem, not the employees of the U.S. tax payers. Regulation should be used only in instances where predatory practices are taking place and can be proven in court. Regulation should not be used because stupid people lost money in risky investments. If you mitigate the risk in this area those stupid people will simply put their money in other high risk schemes that will burn them. Will that mean that you have to then regulate that arena as well? Where does it end?