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.
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.
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.