"What role should dealers play in enforcing securities regulatory requirements against employees or agents who are non-compliant?" asks Joel Wiesenfeld in an op-ed piece in Investment Executive.
Securities regulators have an expectation that, in addition to implementing preventive measures and remedial actions, dealers should penalize individual registrants for misconduct by imposing fines, suspensions and dismissals, as appropriate.
Does it make sense for a dealer in the regulatory context (as opposed to the employment context) to sanction its personnel for regulatory misconduct?
Read Joel's full commentary here.