I believe that the regulation that requires that disclosure comes from the 1933 law establishing the SEC.
A specific concern was how advertising past returns fed into getting people excited about bubbles like the one which popped in 1929.
Therefore the regulation was meant to address a systemic problem rather than individual malfeasance.
I believe that the regulation that requires that disclosure comes from the 1933 law establishing the SEC. A specific concern was how advertising past returns fed into getting people excited about bubbles like the one which popped in 1929.
Therefore the regulation was meant to address a systemic problem rather than individual malfeasance.