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NASD, SEC Ripped by Long Island Group

Traders Magazine, July 2002

Gregory Bresiger

The National Association of Securities Dealers, with its onerous regulatory mandates, is destroying smaller brokerages, says Alan Davidson, president of the Independent Broker Dealer Association (IBDA). "They're really hurting ma and pop brokerages or less, brokerages where the guy who is responsible for the compliance is also taking out the garbage," he charged. Davidson said he has sent his comments to the self-regulatory organization.

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