April 17, 2009
I am an attorney and PIABA member from New Orleans that represents investors on a regular basis. I am writing to support the changes proposed by FINRA and to echo the sentiments expressed in PIABA's letter of support.
As they say in Florida..."the best disinfectant is sunshine" and more transparency about complaints and other potential problems will help weed out the good brokers from the bad. Just because a broker was not named for strategic purposes does not mean he is "innocent." More transparency incentives brokers to keep their noses clean and helps investors make good decisions when selecting finacial advisors.
Again, I support this proposal as it is a step in the right direction.