Protecting investors should be self-explanatory. In almost every instance we’ve discussed the SEC in this material, their intent is to shield investors from fraud and unethical actions. In general, the SEC is most concerned with protecting smaller, retail investors. Institutions have access to significant legal and financial resources, making it unlikely for institutions to be victims of bad actors. Think about it - how many times do you remember rules not applying to transactions involving institutions? Regulation D and Rule 144A are two prime examples.
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