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So no, it's not. The SEC is there to protect investors from malicious actors to allow them to make informed decisions not based on lies & manipulation. Now on
by nightski 4y ago
So no, it's not. The SEC is there to protect investors from malicious actors to allow them to make informed decisions not based on lies & manipulation.
Now one can be informed but also choose to make stupid decisions. People do this all the time on penny stocks, options, etc... The SEC has no interest in trying to stop them, just making sure they know up from what they are getting into.
- danielmarkbruce 4y agoNon accredited investors aren't allowed to invest in many things where the seller of securities is telling the truth. Most startups in the US under most scenarios cannot go around pitching non accredited investors. Other than that, lies and manipulation are part of the equation. It's a bad decision to blindly trust anyone or anything. You can't separate smelling bs from judgement. The whole concept of an accredited investor is basically saving people from themselves.
- nightski 4y agoThat is more gatekeeping than anything. There are plenty of very risky plays available in the stock market.
- danielmarkbruce 4y agoWhy are they gatekeeping? To protect people from themselves. The SEC has a pretty ill defined set of risks they are trying to protect people from. People will find ways to lose their money if they don't have a general "wait, do I have a clue what I'm doing here?" filter.