August 2, 2010
One more layer of regulation requires another layer of compliance. This senseless over-regulation needs to cease
I am meeting on a regular basis with compliance reviews and required annual course work (money laundering, etc). The in office reviews take several hours each and every six months I am required to list 6 "administrative days" where I certify I will be in my office all day in preparation for an unannounced visit. We feel our broker dealer does an excellent job of compliance certification and continued educational mandated updates. Any more regulation will require I add fees to my service business for the individual clients I serve. This in addition to any other fees they may be required to pay. Put some teeth into your regulations currently on the books. You violate the law intentionally, injure a client financially..... you're out of business automatically... period, end of comments