November 2, 2010
I oppose allowing Broker-Dealers setting their own commission rates. By eliminating the current 12-b1 system, you will disenfranchise the small investor from the market. The Registered Rep. will be unable to service their needs because of the lack of compensation when BD's slash reimbursements for serving any size of investor.
The more affluent investor will continue to receive excellent service because of the Registered Reps. to put them in managed accounts.