Wayne - I totally agree with you on the idea that the people in charge may very well prevent the regulation from being all they should be. I don't know that we have much power to change that. However, if we will speak to the public, telling them to pay attention to the debate, while we are vocal in the debate, maybe - just maybe - consumers will pick up enough savvy to do a reasonable job protecting themselves, no matter how the regulation is eventually written.

Think about it. If there is a debate and the public pays attention, with the suitability standard still in force afterward, what kind of marketing advantage does that give fiduciaries? I see a lively debate as a golden opportunity for fiduciaries to make their case to the public, where it really counts. Here is the announcement I am asking my local NPR affiliate to use for our sponsorship of the station:

“Support for WUOT comes from Resource Advisory Services - reminding listeners public discussions on financial services regulation can help you learn to make better decisions yourself. There is more to money than money.® www.resourceadv.com.”