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Trouble Brewing for Small Broker-Dealers?

By Mark H. Astarita, Esq.

Trouble Brewing for Small Firms? Having spent the last 25 years representing small and mid-sized brokerage firms, I completely understand the issues facing these firms. It always seems that FINRA and the SEC fail to pay attention to the ramifications of their rules and regulations on the smaller firms when new regulations are considered.Those concerns are coming to the forefront again, as the latest economic crisis generates calls for additional rules and regulatory overhaul. SIFMA has taken notice, and is speaking out.E. John Moloney, the chairman of SIFMA?s small firms committee provided written testimony to the House Committee on Small Business this week, and spoke to On Wall Street magazine afterwards. Moloney, who is the president and chief executive officer of Moloney Securities Co...continue to full post

Full post as published by SECLaw.com on September 25, 2009 (boomark / email).