D.C. Dear Chairman Levitt, I am writing to express my opposition to SEC Release Nos.
Regulatory supervision is a time and labor intensive effort.
Let us hope the proposed Rule allowing broker-dealers to take advantage of the exception to avoid disclosing as much disciplinary information as investment advisors, or other information in the new Form ADV, is a result of the regulatory agency's limited man power or time constraints. This inequitable proposal would peel away yet another layer of investor protection at the expense of the investing public, and most regrettably our industry.