Was The SEC’s “Investomania” Campaign A Bad Investment?
The Securities and Exchange Commission’s Office of Investor Education and Advocacy recently launched a public service campaign featuring a game show-themed series of short videos.
“We continue to look for creative and memorable ways to reach and educate investors, and we hope this year’s public service campaign, with its lighthearted approach, will attract the attention of all kinds of investors,” according to Lori Schock, Director of the SEC’s Office of Investor Education and Advocacy, in a press release.
The campaign, which is headlined by a 30-second TV spot that punches down on retail investors by putting down meme stocks, has not been well-received by “all kinds of investors,” and might have instead highlighted SEC’s bias toward institutional investors.
Former SEC Branch Chief Lisa Braganca called out the commission on Twitter for disparaging investors in meme stocks, “as if they must have done it thoughtlessly,” and then pointed out how SEC permits trading in dark pools, a highly controversial system that allows institutional investors to make large trades in private, without impacting the wider market.
It doesn’t stop at meme stocks, as the so-called public service campaign includes three shorter videos. The first makes fun of celebrity-endorsed crypto, the second makes fun of investors who don’t understand how the market works, and the third is a guy getting stocks on margin without knowing what it means.
The SEC claims that the campaign seeks to educate new investors. “With the growing access to markets, it’s as important as ever for investors to take time to educate themselves. I encourage investors to go to Investor.gov for accurate and unbiased investment information,” the press release quoted SEC Chair Gary Gensler.
Information for this briefing was found via the SEC, Twitter and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
