August 20, 2010
Fiduciary standards for Registered Rep of a Broker-Dealer. My view is a registered rep has plenty of regulation already and broker dealers do their best to weed out the bad people in our industry and more regulation will not stop bad people from doing bad things. So the best things to do is enforce the laws on the books and regulator audits by the broker dealers and Finra should protect investors. If a broker dealer is not following the law and has repeated violations for not auditing it's registered reps shut down the broker dealer it's that simple.