August 6, 2020
As I think about the rule, I am disappointed. the individual investor is very disadvantaged in the market place. Today an IPO came out BIGC that i could not participate in - all of the shares went to institutions. I can not get research reports from most if not all brokerage firms that institutions can obtain as I obviously can not provide the commissions necessary to pay. There was a virtual stock conference several months that many companies participated in, I also could not listen in to this conference.
It seems the plan is - all of us have to hire professional people at 100 BP fees to manage our money. I think this is the wrong approach by the SEC.
This rule is just again limits the information individual investors can see.
I suppose an institution that manages $2B charging 1% (means its making $30M/yr) needs to have its costs reduced just a bit at the expense of retired investors like self.
The SEC should try to empower individual investors I believe.