February 18, 2020

ONE LAW FOR THE RICH, LITERALLY: Any middle-class would-be investor knows it’s hard to find somewhere to let your money grow these days. The SEC could be just about to make it even harder. As John Berlau explains at the Washington Times:

If it goes into effect, the regulation would cripple investors’ ability to buy dozens of funds they can now purchase on American stock exchanges for zero-dollar commissions from discount brokerages and investing apps such as Robinhood. Under the regulation, investors could not purchase these funds unless they can answer an extensive questionnaire of highly personal questions about their investing knowledge and household assets to the SEC’s satisfaction. SEC Republican Commissioners Hester Peirce and Elad Roisman have blasted the regulation as a “blunt overly paternalistic approach to investor protection.”

While the Trump administration is still deregulating, independent agencies like the SEC can head in the other direction.

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