[cjensen]

How do we let you invest in a business venture without preventing hucksters from getting Grandpa's investment in their sure-fire investment?

Preventing you from investing is the unintended consequence of preventing con-men from stealing retirement savings. In this case, I think the regulation is well-worth the cost.

[bagels]

If it's to protect old people why is that not part of the law?

To those downvoting: This is a response to those who use the terms 'grandma' and 'grandpa' in their comments, not an avocation of these laws, or age discrimination.

[daurnimator]

Because discrimination based on age is illegal (and looked down upon)?

anyway: It's not only the elderly that can be conned