Posted by AccountingWEB on 01/26/2012 - 12:39
How smart is the average investor? Inquiring minds at the SEC want to know. One of the mandates of the Dodd-Frank bill is to improve the timing, content, and format of disclosures to investors regarding financial intermediaries, investment products, and investment services. While that all seems important and even necessary, one shouldn't lose sight of the fact that there needs to be a focus on reminding investors that investing is a risk, and all the best practices in the world aren't going to change that.
We live in a finger-pointing society, and Dodd-Frank follows in that grand tradition, not only hoping to educate investors, but perhaps setting up opportunities to give investors someone to blame when their investments go sour. I'm keeping fingers crossed that we're not headed in this direction.
We live in a finger-pointing society, and Dodd-Frank follows in that grand tradition, not only hoping to educate investors, but perhaps setting up opportunities to give investors someone to blame when their investments go sour. I'm keeping fingers crossed that we're not headed in this direction.
Reader comments
What happened to our financial system should never happen again. So far no one has gone to jail or even given back their bonuses. Much of Dodd- Frank is patterned after the insurance laws in NY and NJ. People object but never say exactly what they object to. We need more than regulation is bad. It is not.
Posted by William Paolino from nyack on Jan 27, 2012 - 10:14 am
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