With Donald Trump now in office as our nation's 45th president, CNBC asked legendary investor advocate Jack Bogle, the founder of the mutual fund giant Vanguard, what financial regulatory reforms he would like to see under the new administration.
Known as the father of index investing, Bogle founded Vanguard Group in 1975. The investment management firm has more than $3.5 trillion in assets, according to its website.
What defines his investor protection wish list? First of all, he said, "I'm not a real believer in government regulation, but the behavior of the financial industry generally has brought forth the proper governmental response," said Bogle, who has been a long-time critic of the industry's marketing practices, high fees and high executive compensation.
Bogle's abstemious lifestyle is directly at odds with Trump's flamboyance, and he has talked about his worries about Trump's long-term impact on society and, therefore, markets.
Nevertheless, here are the seven financial reforms he hopes the new administration will focus on in the months ahead.