Regulatory Scope Creep: a Look at the Five-Year Trend
March 2013
by Jon Henschen
At the recent OneVoice 2013 FSI Broker Dealer Conference held in San Diego, California, a broker dealer president was quoted as saying, “Regulation, like the Obama tax, is here to stay, just deal with it. It’s a cost of doing business.” It surprised me to hear this from the head of a broker dealer, let alone that it was said at the FSI Conference, which is one of the few forums our industry has to advocate against increasing Washington intrusion.
For many of us in an already over-regulated industry, we are growing numb to the daily onslaught of regulatory proposals. In our world of recruiting, we can look back just five years and see a drastic change in the regulatory landscape.