Beware the nudge: Many people do not realize this, but we often are swayed in our decision-making processes by our emotions, the methods by which products or services are marketed to us, and the context of our current situation or surroundings. Nudges strategically and effectively make use of biases and mental shortcuts to influence behaviour and decisions while preserving freedom of choice.
The SEC is proposing major changes to the rules governing private markets to help young companies raise capital and to expand retail investor access to private markets. CFA Institute argues that the proposal would weaken investor protections and tip the balance yet further against public markets.
The SEC has proposed to amend the accredited investor definition, which could open the door for eventual recognition of the CFA® charter as a qualifying designation allowing them to participate in private markets.
Despite its severity, this crisis also could represent an opportunity for regulators and financial institutions to set out measures to address inappropriate culture and behaviors, which were the factors precipitating the 2008 global financial crisis that remain present in markets today.
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