August 9, 2010
Now while I understand what is trying to be accomplished here, I also understand that like many potential regulatory reforms this will probably cause more harm than good. Trying to protect the public is a notable cause. However, I believe currently there are robust regulations and heavily enforced standards that exist in the investment related profession today. In my opinion, what may be better for the consumer is better oversight of registered representatives by the broker/dealers rather than additional rules and regulations by a regulatory committee.