Gretchen Morgenson What do you think? These laws were submitted to the SEC FOR REVIEW in November , 2014, the author has not head from the SEC to date. He’s curious, since his proposed legislation attempts to codify the fiduciary responsibility of brokers to clients, why wouldn’t the SEC embrace this clarification of the Regulation or at the very least, respond and debate this portion of Dodd Frank ? His letter to the SEC is attached along with his submissions to Commentary which were published last year. After four months, he’s perplexed by the SEC’s silence.
- Dear Mr. Fields and Mr Fleming (SEC),
I am submitting my comment letter and supporting materials on the definition of an accredited investor, a uniform fiduciary duty standard for broker-dealers no less stringent than for investment advisers, and four (4) key proposals for financial regulatory reform and the enhancement of investor protection. Please confirm receipt. Thank you for your consideration. Ned Arnoff - scan_1_(12)
- SKMBT_28314120117250-1
- scan_3_(4)
- SKMBT_28314120117250
It makes sense to me to have one law clarifying the broker client relationship. It would be better then punishment, which is arbitrary and this law would in fact change the broker dealer culture. If Brokers have a fiduciary obligation, they are accountable for their advice. They too, can be protected via liability insurance? It’s a thought when there’s room for debate.
- Dear Gretchen Morgenson, “we” urge you, as a respected Authority, to read these proposals and comment. In fact, anyone reading these posts are asked to comment and advise. Community support is necessary to create change. If One Knowledgeable respected Lawyer isn’t heard, then “we” are all silenced . It’s not only Congress that’s unresponsive to change, the SEC may need a nudge as well.
I look forward to hearing from Gretchen Morgenson , “we the People” require Law not arbitrary punishment of individuals and institutions. If the proper Laws were in place , the Fiscal Crisis of 2008 would have been prevented, along with the Madoff and Enron schemes. Just like “job descriptions”, doesn’t knowing your responsibilities make “common sense”? Thank you for listening. Have a great day!
