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Cato Daily Podcast
An Overbroad Federal Swipe at 'Gamified' Investing
Oct 5, 2023
SEC's worries about the gamification of investing and proposed federal regulations. Lack of consideration for accessibility and availability of new investing forms. Concerns about AI and conflicts of interest in the industry.
11:01
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Quick takeaways
- The SEC's proposed rules aim to address concerns about the gamification of investing and the potential negative impact of new technology on investor understanding and decision-making.
- Critics argue that the SEC underestimates investors and overestimates technology, as investors have different motivations and trading strategies, and the proposed rules may restrict accessibility and increase costs.
Deep dives
SEC's Proposal to Regulate Technology in Investing
The Securities and Exchange Commission (SEC) has proposed rules to address concerns about the gamification of investing and the potential negative impact of new technology, including AI, on the investor-broker relationship. The SEC believes that flashy technology might make investors trade more than they intend to or not fully understand the consequences of trading. However, critics argue that the SEC underestimates investors and overestimates technology, as investors have different motivations and trading strategies. The proposed rules cover a wide range of technologies, including basic tools like Excel spreadsheets, bringing into question the distinction between cutting-edge technologies and more familiar ones.
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