August 11, 2010
My experience, as with most professions, is that the majority of practitioners are dedicated to providing wisdom and good counsel to clients. That is certainly the case with financial services professionals. An emphasis from the SEC to professionals that makes absolutely clear that those who do not act honorably and honestly will be punished is a much more effective way to regulate the investment process than by adding misguided and confusing regulations on future actions that discourage the consumer from seeking professional counsel -- resulting in mistrust and fear from the consumer.