Edward Wetherell Comment On Regulatory Notice 22-08
Edward Wetherell
N/A
To whom it may concern, The know your customer rule, regulation BI and and the pending IRA rollover rules are sufficient to regulate investment options, advice and documentation regarding investment options, recommendations and relationships between advisors and clients. Putting further restrictions and limitations on clients access to investment products will disproportionately and negatively impact smaller/average investors as compliance costs and time spent per transaction increase, these investors will have access to fewer advisor options. More established and experienced advisors will be less willing to take on new and smaller relationships opting instead to focus on establishing client relationships and only larger new opportunities. In short, the negative unintended consequences far outweigh any conceivable good that might come from these proposed new restrictions. Thank you.
For the Public
FINRA DATA
FINRA Data provides non-commercial use of data, specifically the ability to save data views and create and manage a Bond Watchlist.
For Industry Professionals
FINPRO
Registered representatives can fulfill Continuing Education requirements, view their industry CRD record and perform other compliance tasks.
For Member Firms
FINRA GATEWAY
Firm compliance professionals can access filings and requests, run reports and submit support tickets.
For Case Participants
DR PORTAL
Arbitration and mediation case participants and FINRA neutrals can view case information and submit documents through this Dispute Resolution Portal.
Need Help? | Check System Status
Log In to other FINRA systems
Edward Wetherell Comment On Regulatory Notice 22-08
To whom it may concern, The know your customer rule, regulation BI and and the pending IRA rollover rules are sufficient to regulate investment options, advice and documentation regarding investment options, recommendations and relationships between advisors and clients. Putting further restrictions and limitations on clients access to investment products will disproportionately and negatively impact smaller/average investors as compliance costs and time spent per transaction increase, these investors will have access to fewer advisor options. More established and experienced advisors will be less willing to take on new and smaller relationships opting instead to focus on establishing client relationships and only larger new opportunities. In short, the negative unintended consequences far outweigh any conceivable good that might come from these proposed new restrictions. Thank you.