The US Securities and Exchange Commission videos stirred up social media. On May 31, 2022, the SEC launched a social campaign on investment in the format of game shows. However, investors reacted quite aggressively to the rhetoric of the government agency, as evidenced by numerous negative and sarcastic comments on social media.
Gary Gensler: “With improved access to markets, it’s more critical than ever for investors to take the time to educate themselves”
The
Investomania project was developed to raise investor awareness of the market nuances, assist in decision-making, and prevent fraud. Given the fact that many asset holders are considering investment as a game, the SEC has chosen an interactive quiz, as a format which is popular among users of all ages.
Investomania includes short informational videos on resonant topics (
cryptocurrencies,
margin trading,
meme stocks,
Easy Money). Each of them encourages users to remember the basics of investing, possible risks, and also encourages them to receive up-to-date profile information on the specialized SEC
investor.gov resource and
use free financial planning tools.
“The SEC doesn’t have enough money for coffee... but they can mock retail traders WHO HAVE done their research.” Social media reaction
Lisa Braganca, namely the former SEC Branch Chief, reacted promptly to the emergence of Investomania and commented on it:
(Very disappointing to see SEC disparage investors in meme stocks as if they must have done it thoughtlessly – esp. when @SECGov permits most trading to take place in dark pools. How about a video about dark pools @GaryGensler? Or better yet, get trading into the open)
This position was supported by numerous users who found the presentation of educational material offensive.
(Pretty sad when the @SECGov literally mocks the people that they pledge to protect. I would like to hear from @BarbaraRoper1 to see what they are doing to protect us from the PFOF abuse)
(How awesome it would be for somebody like Lisa, to be heading the @SECGov, and look out for retail more than hedge funds…)
(Goldman Gary would never do such a thing, he is bought and paid for by the elites on Wall Street)
(Thank you!!! It was 100% inappropriate. The SEC doesn’t have enough money for coffee... but they can mock retail traders WHO HAVE done their research)
The SEC and Gary Gensler have not yet commented on the situation on their Twitter accounts.
