July 30, 2010
Please consider in your legislation what fiduciary responsibility means, as well as if you want people to seek help with their finances at a low cost. Adding additional layers of fiduciary responsibility without clarification will only lead to more judicial hearings, as well as increased costs to the end user, as people in the financial world seek additional insurance and pass those costs along.
Please consider this in your evaluation, and doing what is best for the people who are consumers, people in the industry and elected officials.