Comments on NASD Notice to Members 04-55

In response to your request for comments on Branch Office Registration, how much is too much information? Why is it necessary to include information on Options Principal? It is already located on Form BD. Why do the regulatory authorities and the general public need information about written agreements? Items 4,5,6 are totally unnecessary. That information is located in the main office. Will form BR become public record?

 

The industry has been over-regulated for years, when is enough too much? When will small firms have time to actually transact business instead of filling out forms with much more information than necessary?

 

Stop this foolishness. This form is WAY OVERBOARD!!! Do not approve until reasonable people draft and review this form. It's a good thing that's gone WAY TOO FAR.

 

Benjamin Gray
Director of Compliance
Seidel & Shaw, LLC
40 Exchange Place 15th Floor
New York, NY 10005
212 785-3400 x253