Regulators have a difficult and thankless job. In the advisory industry, with thousands of people, regulators are tasked with creating a universal minimum threshold of service and competence. The good advisors feel, quite validly, that they are better-suited to decide how to interact with clients and what information clients can even understand.
But as is often the case, these rules are not there for the responsible and ethical individuals. Instead, they've become a necessary burden to weed out everyone from the incompetent to the outright fraudsters.
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