February 17, 2004
The proposed regulations to tighten up the reporting
and accountability is a very positive step forward.
The confusion that many brokerage firms have put forth in the form of lack of detail in their statements has lead to confusion and dishonest accounting.
In addition I would like to see a ruling that removes
the costs that brokage houses get to levy on consumers
who for one reason or another want to move their account
to another institution. Why I should have to pay someone
to obtain and transfer my holdings is beyond me, especially
when their service has been bad and one is ready to move on.