Keith Laterrade knows a thing or two about floods. When Hurricane Katrina swept ashore in 2005, his office in New Orleans' Gulf Coast Bank ended up underwater. Laterrade weathered that storm but now faces another flood — not from Mother Nature this time but one that is more widespread: paperwork.

"My associate and I have to look around piles of paper just to see each other sometimes," he says. "Suitability and alternatives, FINRA's focus on those issues has us doing a lot of paperwork."

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