March 28, 2004
I think the idea of requiring brokers to disclose more info. about costs and special conflicts of interest are right on the money. THE TIME HAS COME.
I would not think such requirements are normally in the best interests of the free enterprise system. However, the intangible nature of the product, mutual funds, and the dishonest nature of some brokers lead to some needed restraints. I think that the brokers have caused this problem and you have no other choice but to step in.
Thank you for your interest in this matter.
John E. Heath