2 ms·
It's not clear which one, but the SEC was created by an act of Congress. It has a 3-part mission, to protect investors, maintain fair, orderly, and efficient ma
by credit_guy 5y ago
It's not clear which one, but the SEC was created by an act of Congress. It has a 3-part mission, to protect investors, maintain fair, orderly, and efficient markets, and Facilitate capital formation [1]. If the law were unconstitutional, I guess someone would have challenged it, and the Supreme Court would have struck it down at some point in the 88 years that have passed since the SEC was created.
[1] https://www.investor.gov/introduction-investing/investing-basics/role-sec https://www.investor.gov/introduction-investing/investing-ba...
- landemva 5y agoExpensive to challenge government in court. Would need to set up standing, show harm, and then fund the federal court (loss) and hope USSC allows petition to be heard. USSC chooses if they want to accept a case. If someone can afford this excursion, they can simply get their accountant to write opinion letter of being a 'qualified investor'. https://www.sec.gov/news/press-release/2020-191 https://www.sec.gov/news/press-release/2020-191 The middle class and poor aren't able to challenge it. The wealthy and near-wealthy aren't affected by it. That does not mean it is constitutional.