July 30, 2010
Comments:
The present suitability standard is already adequately enforced How much more time do we have to spend with regulations and compliance cost.
Changing from the present system to a fiduciary standard will not help tghe client because a bad RR will still be bad and a good RR will be good without the change.
Only the RR and client know what is best - outsiders telling what can be done or not done will not help or be in the best interest of the client