August 6, 2010
Pleased be advised that I have been licensed for equity sales for over forty years. We as registered representatives have enough compliance and regulatory obligations. Legislation and laws do not stop criminals from comitting crime. The point comes when it becomes extremely difficult to conduct business profitably forcing the honest entrepreneur to cut back on jobs and business growth. Certainly we have adequate and meaningful compliance measures in place to protect the consumer and supervise Registered representatives properly. Lets not over-regulate more than we have already done in our industry. Deter criminals with appropriate penalties and enforce those penalties with heavier fines and jail sentences. Deter criminals, not the honest worker trying to do good for the investor and themselves.