February 20, 2020
This rule does no one any favors, except make some social justice warrior in Washington DC feel good about their job. The asymmetry of risk here is absolutely moronic. The investors lose a valued source of limiting risk and the SEC under the guise of "protecting the investor" gets more power to dictate what we as American Citizens can invest in. Dear SEC, we don't need your protection we need you to listen when someone reports the next Bernie Madoff or Enron. If you can't do enforce existing rules effectively how are you going to somehow enforce new rules that do no one but yourselves any favors.