Understood an agreed in principle. I would add that law enforcement cannot and should not be relied upon to micro-manage all aspects of all markets all of the time. It's simply not achievable. What's important is getting the important settings right. If one doesn't like it, one should not participate.
Translating thìs idea to everyday life, ask yourself how many speeding tickets we have each saved ourselves by not being caught inadvertently travelling over the speed limit without a copper seeing us. It just a reflection of the limitations of enforcement in the real world.
Retail investing in equities will not disappear anytime soon. Think it through.
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