August 24, 2010
Thank you for considering comments from those of us who are in the industry and feel the regulations that are currently in place is more than sufficient to govern those of us who are broker-dealers and investment advisors. Those of us at Northwestern Mutual have in place standards that are heavily enforced and feel the current regulations are enough.
Compliance costs are already high and adding more regulations will only add to those costs.
We have examinations and mandatory compliance meetings annually which take up alot of time and expense. These meetings and exams are important and I agree that they need to be completed. What is in place is enough, in my opinion. Adding more regulations will not only impact our clients, but our ability to continue to work in this industry.
Please consider my comments with thousands of others in my line of work in not adding to the burden we already carry.