I write in opposition to the proposal.

If I understand correctly that “Investment-related activity” means pertaining to financial assets, including securities, crypto assets, commodities, derivatives (such as futures and swaps), currency,

banking, real estate or insurance, this seems too broad.

If I understand that the proposal would also require B/D's to approve each transaction in writing for each representative, that seems to amplify the regulatory burden. It introduces vagueness,

Dear Ms. Mitchell,

As an owner of a Registered Investment Advisory (RIA) firm having registered representatives at a member firm that is independent and not affiliated in any manner with my RIA firm, I strongly object to the newly proposed Rule 3290 in Regulatory Notice 25-05.