April 1, 2005
I am so very disturbed that the SEC has again initiated actions which would appear to unrealistically burdon reputable professional entrapreneurs who have been diligently serving the public without complaint. As with recent NASD proposed actions, the SEC now either demonstrates their ignorance, or their self-rightous disregard, for both their indirect and direct potential negative impact on my clients.
Whichever the case, those not meeting clients and providing services should obviously seek the guidance of those who do before they act at this point. To not do so risks continued damage to the psyche of the many average American investors whose confidence has been irreparably shaken since the recent and major market correction and events following on September 11th.
I ask for only one immediate and clearly reasonable action:
allow more time to discover and consider S7-06-04 even though its appearance truly alarms me. Afterall, why do I end up with the paperwork debt of others ethical and legal breaches time and time again??
And this occurs while a CEO picks up humdreds of millions for selling a company he works for- go figure.
Steven M Weinstein, CFP