September 15, 2009
I write to urge you to eliminate or lengthen the 2 year purge feature of the rule. If any time limit is included, I believe it should be 10 years.
Most people believe that more openness and disclosure are the better less, especially in times like these. I suggest that any error in the balancing of interests be made in the direction of disclosure. The honest, capable broker will have nothing to hide.
If you want to foster the public's trust in the industry, then adopt a policy that avoids even the appearance of undue protection of the industry let a broker's record be freely available to the public for 10 years.