August 10, 2010
Of all the facets of my practice, the most regulated is the financial services in conjunction with my Series 6, and 63 licenses. Additional regulations and oversight are not needed and would significantly increase my cost of operation with no perceivable benefit to my clients.
I already adhere to a strict practice of dealing with my clients on a fully open basis with their specific needs and risk tolerance in mind.
All the regulations I currently operate under are designed to protect the client and are plenty enough already. Further regulation drives up the cost to do business, does not provide additional benefit to the client, will reduce the number of qualified practioners to assist clients, and further increase administrative costs at the SEC and the government which we certainly don't need.
Simply enforce what you have now to deal with the very small percentage of scofflaws currently operating and sullying our fine industry.
Simply put, increased regulation does not mean increased benefit to the consumer - such is most definitely the case here.
Thank you.