July 15, 2020
I think the SEC has failed in their job to properly protect the market and ensure fairness. Instead of trying to regulate the restrictions already imposed and go after bad faith actors which by in large hurt the retail investor, youre trying to relax restrictions and increase the secrecy of a high majority of institutional investors? This is ethically unjustifiable and immoral. The reasoning that youre using is that the stock market has increased so the minimum AUM should increase as well and you think a 35 fold increase is fair? Thats utter ridiculous and I think the SEC has lost its mandate and is nothing but a puppet for big institutions. Youre not doing your job and thats why no one respects the institution. Every company should pump up their stocks illegally and give false information because the SEC has shown that it doesnt matter. Everyone should insider trade because you guys dont give a [REDACTED]. This proposal is a joke but still not as much of a joke as the SEC.