August 11, 2010
Your oversight lumps all security licensed professionals together ee: security salesmen,brokerage firms, broker dealers and life insurance salesmen that sell only variable life insurance policies.
Those selling securities to the public need much greater and different oversight than a BD or life salesman selling only a registered insurance product, that you improperly call a "security". Few at the SEC nor the NASD truly understand the difference and the nature of the products.