August 26, 2010
-I can't imagine having more regulations. Every piece of paper I use must be pre-approved by certified staff. I am limited on whom I may call due to no-call regulations. In some states I must send a detailed letter outlining the scope of my requested meeting before setting an appointment. All sales and advertising material must meet rigid requirements before it can be used. I must undergo annual audits of my files to be sure all required information is present. FINRA can fine and/or suspend me at their pleasure if they discover even the slightest transgression. Further regulation will most likely deny the public of possible valuable financial guidance and education. I suppose the next step would be to have a full time regulator sitting beside each financial professional to be sure there is no possible violation of regulations and protocol. Further regulation may border on destroying the entire financial services industry. The current system targets the abusers, and that is the way it should be.