August 23, 2004
I serve our industry as an expert in the area of securities arbitration, and I am a member of the Securities Expert Roundtable. I am very concerned about double standards. In fact I am finding that too many registered reps do not understand nor do they want to understand the importance of
financial planning, especially on a fee based basis.
There should only be one standard for all who give investment advice and financial planning information, and that is the 1940 ACT.
I urge you to WITHDRAW the current porposal.