We actually have some sympathy for the SEC. Regulating financial markets is hard. Half the country hates you for destroying freedom; the other half for allowing rapacious capitalism to run amok. And Elon Musk will haunt your dreams.
But this is probably not the solution:
The Securities and Exchange Commission’s Office of Investor Education and Advocacy today unveiled a game show-themed public service campaign to help investors make informed investment decisions and avoid fraud. Recognizing that sometimes investing may look and feel like a game, the campaign titled “Investomania” reminds investors to do their due diligence when making investment decisions.
We took the Investomania quiz, and it is precisely as cringe as you might think. Apparently, our desire to open a margin account and invest immediately in meme stocks and a risk-free 25 per cent annual yield product pumped by “Brad” might have been unwise.
Perhaps we’re being overly mean. Reaching people that would normally not prowl the SEC’s investor information site for wisdom is an admirable goal. But we doubt this 30-second TV ad is going to change much when the crypto industry has Matt Damon solemnly saying “fortune favours the brave” in the Super Bowl ad break.
Come up with your own best lines on investor protection in the comments below.