[IIAOPSW]

>There's a reason why the term "accredited investor" exists: it designates people with high enough net worth that even in the event of total collapse of their speculation they will not be a burden to society.

And it completely fails. Because the non-high-net worth individuals still de facto invest directly but they pay to do it via a broker. Thus the wealthy establish for themselves a rent seeking position and successfully sell it to people like you as "consumer protection". Did you honestly think that a law which codifies only letting the wealthy take advantage of certain opportunities would actually help society?

Praytell would you also be in favor of only letting "accredited intellectuals" go to college just to ensure that the middle class doesn't blow their life savings on a poorly chosen major?