Complete the lesson as written. Emphasize the role of government regulation in protecting investors and supporting the functioning of financial markets. Students should understand the distinction between market failure and government failure, the role of the Securities and Exchange Commission (SEC), and how securities regulation addresses problems such as misleading information, unfair treatment, fraud, and theft. Pay particular attention to the lesson’s discussion of Ponzi schemes and the Bernie Madoff case. Reinforce the distinction between losses resulting from the normal risks of investing and losses resulting from fraud or other wrongdoing.