This regards the FINRA Rulebook Consolidation proposals.
I would like to express my concern about increasing the responsibility for broker/dealers to supervise outside business activities. Apart from unnecessary burdens and/or liability there are legitimate questions regarding authority and jurisdiction.
Already there is a double standard for fixed insurance agents, depending on the agent being registered with a broker/dealer or not. Some broker/dealers have restricted the sale of properly registered fixed products by their representatives.
Please consult with the independent broker organizations to come to a sound, practical solution to setting high standards in serving the public.
Peter G. Timmerman, CFP®
The Beacon Financial Group Inc.
6197 Miller Road, Suite #1
Swartz Creek, MI 48473
Securities and Advisory Services offered through Multi-Financial Securities Corporation, member FINRA, SIPC, an ING Company. The Beacon Financial Group, Inc. is not affiliated with Multi-Financial Securities Corporation or ING.