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However, they didn't tighten the definition to prevent rich dentists from making bad decisions. They are loosening it which will allow even poor dentists to mak

However, they didn't tighten the definition to prevent rich dentists from making bad decisions. They are loosening it which will allow even poor dentists to make bad decisions.

dragonwriter 6y ago
> They are loosening it which will allow even poor dentists to make bad decisions. Um, under what part of the new standard would a "poor dentist" that would not qualify under the old standard qualify?
- CalChris 6y ago
  natural persons holding in good standing one or more professional certifications or designations or other credentials from an accredited educational institution However, it is not possible to say since this class of professional certifications is not delineated. Dentistry may qualify. It may not.
  - dragonwriter 6y ago
    > However, it is not possible to say since this class of professional certifications is not delineated. Yes, it is quite specifically. The new rule also sets out standards (which would very much not seem to be likely to ever admit certification in dentistry) and a process for subsequent rulemaking to update the set of certifications, but any problem with certifications later adopted would be an issue with those actions, not the immediate action. The initial set is "the General Securities Representative license (Series 7), the Private Securities Offerings Representative license (Series 82), and the Licensed Investment Adviser Representative (Series 65)". [https://www.sec.gov/rules/final/2020/33-10824.pdf https://www.sec.gov/rules/final/2020/33-10824.pdf, bottom of p. 28]
  - tptacek 6y ago
    You've misunderstood the rule. It's not arbitrary professional certifications. It's those certifications the SEC designates, which right now are the Series 7 and Series 65. Nobody is going to automatically accredit dentists.
  - vonmoltke 6y ago
    > natural persons holding in good standing one or more professional certifications or designations or other credentials from an accredited educational institution You cut off the critical second half of that statement, which significantly changes the meaning: > natural persons holding in good standing one or more professional certifications or designations or other credentials from an accredited educational institution that the Commission has designated as qualifying an individual for accredited investor status If you think the SEC would add DDS to that list, I'm not sure why you would trust them to regulate investing at all.

However, they didn't tighten the definition to prevent rich dentists from making bad decisions. They are loosening it which will allow even poor dentists to make bad decisions.

dragonwriter 6y ago

> They are loosening it which will allow even poor dentists to make bad decisions. Um, under what part of the new standard would a "poor dentist" that would not qualify under the old standard qualify?

CalChris 6y ago
natural persons holding in good standing one or more professional certifications or designations or other credentials from an accredited educational institution However, it is not possible to say since this class of professional certifications is not delineated. Dentistry may qualify. It may not.
- dragonwriter 6y ago
  > However, it is not possible to say since this class of professional certifications is not delineated. Yes, it is quite specifically. The new rule also sets out standards (which would very much not seem to be likely to ever admit certification in dentistry) and a process for subsequent rulemaking to update the set of certifications, but any problem with certifications later adopted would be an issue with those actions, not the immediate action. The initial set is "the General Securities Representative license (Series 7), the Private Securities Offerings Representative license (Series 82), and the Licensed Investment Adviser Representative (Series 65)". [https://www.sec.gov/rules/final/2020/33-10824.pdf https://www.sec.gov/rules/final/2020/33-10824.pdf, bottom of p. 28]
- tptacek 6y ago
  You've misunderstood the rule. It's not arbitrary professional certifications. It's those certifications the SEC designates, which right now are the Series 7 and Series 65. Nobody is going to automatically accredit dentists.
- vonmoltke 6y ago
  > natural persons holding in good standing one or more professional certifications or designations or other credentials from an accredited educational institution You cut off the critical second half of that statement, which significantly changes the meaning: > natural persons holding in good standing one or more professional certifications or designations or other credentials from an accredited educational institution that the Commission has designated as qualifying an individual for accredited investor status If you think the SEC would add DDS to that list, I'm not sure why you would trust them to regulate investing at all.