Deceptive sales practices are illegal already, the SEC has a mandate to prosecute them. While the Greenspan era was notorious for undermining that, the Financial Crisis restored the political will to support their mandate. The Trump admin did what it could to reverse that and hopefully the Biden admin will push against crime again.
As for naivete of investors, should we also regulate away matches, because consumers might cause an unwanted fire? More warnings if necessary sure, but not more nannying.
As for naivete of investors, should we also regulate away matches, because consumers might cause an unwanted fire? More warnings if necessary sure, but not more nannying.