U.S. Securities & Exchange Commission
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U.S. Securities and Exchange Commission

The following Letter Type B, or variations thereof, was submitted by individuals or entities.

Letter Type B:

  • Suitability standards currently governing broker-dealers and registered representatives are already stringent and heavily enforced. Current regulations already provide strong and appropriate consumer safeguards.
  • Requiring compliance with 'fiduciary standards' will drive many advisers out of the market and eliminate a valuable advisory resource to consumers, especially in middle- and lower-income markets.
  • Additional risk of lawsuits involving registered representatives will increase costs to consumers.
  • Driving every registered representative to fee-only compensation will not necessarily result in better, unbiased advice for the consumer.



Modified: 08/13/2010