August 25, 2010
I am a financial services professional holding a Series 66 and 7 along with Life, Accident and Health as well as Property and Casuality licenses.
I am against holding advisors and insurance to the proposed vague fiduciary standard contemplated by the SEC. This business is too regulated as it is with exams, education and laws aimed to protect the public. While many of these efforts are worthwhile, proper enforcement of existing lasw will serve the purpose of protecting the public rather than creating another layer of regulation.
I am overwhelmed with compliance to FINRA, SEC, State of Ohio and Indiana laws that takes time and resources that could be better used elsewhere.
I am against the proposed additions to SEC oversight of the fiduciary standard.
Frank Yensel,CRPC, CLU, ChFC