Re:The SEC “Modernizes” the Accredited Investor Definition
by JumpCrisscross on Friday November 20, 2020 @06:47AM
(#25159544)
> Wouldn't it be a better, more free, system to just make it law to issue strong warnings suggesting up to $20,000 in legal fees for the inexperienced noobies upon any share issuance
These clauses are already commonplace. People don’t read them. They then turn their losses into a political problem that breeds feel-good laws mandating red tape for everyone. Best case. Worst case: a crisis of confidence in our markets and an ensuing depression.
Better law might be a cap on this asset class as a percent of one’s investable assets?
Wouldn't it be a better, more free, system to just make it law to issue strong warnings suggesting up to $20,000 in legal fees for the inexperienced noobies upon any share issuance.