Leonard SteinerSTEINER LIBOPROFESSIONAL CORPORATION433 N Camden Drive Suite 730Beverly Hills CATelFaxCell ID: 874602
Download Pdf The PPT/PDF document "I have been a PIABA member since 1991I w..." is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
1 I have been a PIABA member since 1991.I
I have been a PIABA member since 1991.I write in opposition to RN 15The proposed rule would place an undue burden on a broker’s ability to switch from one member firm to another.As a result of the proposed rule, even when a brokerage firm is engaging in improper or unethical behavior, a broker employee of that firm will be hesitant to switch companies out of fear that the switch will cause him or her to lose a substantial portion of their business.Plus, the rule does not have a similar provision for client notifications in the event an employing firm pays a retention bonus to a broker.The absence of such a provision reveals the true nature of the proposal, that is, an industry device to tie brokers to their employing firms.Brokers should be free to service their customers at the firm’s that they believe to be most able to ethically meet their customers’ needs.There should be no impediment adopted by FINRA to interfere with that process. Leonard Steiner STEINER & LIBO PROFESSIONAL CORPORATION 433 N. Camden Drive, Suite 730 Beverly Hills, CA (Tel.) (Fax) (Cell)