Yep. That's our understanding too. This is an unnecessarily harsh treatment by the SEC (in terms of time to comply), but if we keep our wits about us, we'll all get through it. I personally appreciate people sharing their experiences. Have a good weekend (well as good as you can have when it's spent trying to memorize the minutia of BOX regs )
Eprado & itrade2009 Get a life & run along already. No one needs to deal with children. take your scumbag friends with you like itrade2009 & whoever. You all live at home with your parent's & can't find your ass with both hands. You guys have a lot of growing up to do . Your pathetic losers.
At the end of the day if people with experience don't get waivers and new guys have to take the test, there will be plenty of study material available in time for the Sept 19 deadline. Over 2 months away................. Have a good weekend.
Yes, I have to agree. The socialists in this administration would love nothing more to choke out ANY private sector/industry group, then say, "oh yes, the government can help if you'll climb aboard our 'spaceship' and do EXACTLY as we want you to do. Unprecedented times we're living in... This CAN get better with either the elections of TRUE Americans like Ron Paul, or the Patriots in America finally standing up, and taking back this Country by force restoring it to what our Founding Fathers meant it to be: Real Freedom...
Economists Craig & Craig in 2009 released a study of the cost of regulatory compliance in the United States. Just the Federal reg compliance cost the economy $1.75 TRILLION - or 1/8 of 2009 GDP. That's a huge tax, considering that corporate profits that year were only $1.45 Trillion. The regulatory compliance tax goes up to about 25% of GDP when local and state regs are included. That means that 25% of everything we produce in this country is eaten up just by compliance in 2009. But it doesn't end there. Because people are so busy complying with mostly inane and politically motivated regulation, they are not innovating things, opening new businesses, etc. So, we are losing an inestimable amount of wealth creation because we are simply unable to undertake those projects and waste time on compliance. That is the hidden cost of regulation. The deadweight loss is astounding. Factor in the fact that regs are so politicized that the incentives are perverted to encourage the kind of behaviour that eventually brought us 2008. What do we get in return for this horrendously expensive regulatory promise of security from fraud and misdeeds? Madoff Huge bubbles Less competition (and lower efficiency) Since 2009, oodles of new regs have been passed - including the Healthcare Destruction Act and Dudd-Frank. All regs that have yet to be written. Yet to kill more economic activity (although, the anticipation has killed some already). I would love it if more politicians like the Pauls were elected in 2012. Unfortunately, the regulatory authorities, the Czars, the additional legislation calling for more and more ridiculous regulation are already on the books and they are virtually impossible to repeal because of the special interest groups they create. We are on the fast track to economic destruction (but slower than Europe because of America's and American currency's unique position in the world). Already the stagnation has set in. I really hope that before we become the next Greece or Argentina, something happens to reverse the course in this country. In other words, I hope I am proven wrong about our future. But, I fear I hope in vain.