I live in rural Pennsylvania, and I will be the first to admit that I have no idea how investing works. However, the mere suggestion that ordinary people should have to take additional measures, such as passing a literacy test, in order to invest their hard-earned money makes me furious. The United States is built on the idea of freedom, which includes a free market. By only allowing those who "demonstrate high net worth" to invest freely, you will be ensuring that only people who were born into wealthy families will continue to make tons of wealth, while the rest do not have access to the same opportunities. If the FINRA was genuinely concerned with the public not understanding complex investments, the solution would be to start funding educational initiatives across the nation, rather than try to pass this classist bill.
Becky Stahl Comment On Regulatory Notice 22-08
I live in rural Pennsylvania, and I will be the first to admit that I have no idea how investing works. However, the mere suggestion that ordinary people should have to take additional measures, such as passing a literacy test, in order to invest their hard-earned money makes me furious. The United States is built on the idea of freedom, which includes a free market. By only allowing those who "demonstrate high net worth" to invest freely, you will be ensuring that only people who were born into wealthy families will continue to make tons of wealth, while the rest do not have access to the same opportunities. If the FINRA was genuinely concerned with the public not understanding complex investments, the solution would be to start funding educational initiatives across the nation, rather than try to pass this classist bill.