August 25, 2010
The new regulations are an over kill. The Present system is very structured and well managed through the Broker Dealer System in Place. We are also regulated by the insurance industry provisions and compliance structure. Our organisation is also regulated by the Banking regulation as we also do Mortgages origination. On top of all this a new system will make it untenable for our small business to opperate. It is already over burdened with the present compliance and regulatory systems.