Re: ENRON, Paine Webber, and the Ethical Reg Rep -- Insurance Forum

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Date Posted: Thu, June 06 2002, 18:28:02
Author: Brent D. Gardner, ChFC
Subject:

Re: ENRON, Paine Webber, and the Ethical Reg Rep
In reply to: Keith Busmente 's message, "Re: ENRON, Paine Webber, and the Ethical Reg Rep" on Thu, June 06 2002, 15:31:26

>Yes, corporate compliance can be a real pain in the
>ass. I've submitted material that was based on
>previously approved stuff (word for word, even) and
>had it rejected. It gets very frustrating at times
>when I want to say the correct thing, but know that I
>could get in a heap of trouble if I do.

It doesn't make any sense, does it? Tell the truth, get fired? Persuade your clients to dump a loser before it tanks, and lose your license?

Perhaps we need more NON-registered lay people involved in the rule making process? I've never been through arbitration, but I've read that at least one person is supposed to be a disinterested party (read: not a Reg Rep or a regulator). It seems to me that common sense is just not common among those who make the rules, and I think it hinders the very essence of our craft of advice.

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