The Infrastructure Gap
Many Native American communities have limited access to financial advisors, securities attorneys, and investor advocacy organizations. Retail investors in these communities who use national discount brokers are subject to the same PFOF arrangements as investors in major financial centers — but with far less access to information, legal resources, or complaint mechanisms.
What Tribal Governments Can Do
Tribal gaming commissions and tribal financial institutions have regulatory infrastructure that could be leveraged to educate community members about PFOF practices. Several tribes have also worked with the SEC's Office of Investor Education and Advocacy on financial literacy programs.