August 6, 2010
THE FINANCIAL SERVICES INDUSTRY IS ALREADY REGULATED ENOUGH BY FINRA VIA THE ANNUAL COMPLIANCE MEETINGS, SURVEYS AND INTERNAL AUDITS. ALL TRANSACTIONS ARE THOROUGHLY SCREENED BY OUR OSJ FOR ACCURACY AND SUITABLILITY. ANY ADDITIONAL REGULATION WOULD BE OVERLAP AND UNPRODUCTIVE. THE ADDITIONAL COSTS TO THE BROKER DEALERS, VENDERS, AND REGISTERED REPRESENTATIVES WOULD EVENTUALLY BE PASSED ALONG TO THE COUNSUMER IN EITHER HIGHER FEES OR POORER RETURNS OR BOTH. THIS COULD ALSO IMPACT THE AVAILABILITY OF FINANCIAL SERVICES AS SOME GOOD PROFESSIONAL REGISTERED REPRESENTAIVES WOULD LEAVE THE INDUSTRY DRIVEN OUT BY THE GOVERNMENT'S OVER REGULATION.