Letters To The Editor

Published Wednesday, October 01, 2008

To the Editor: The August 2008 article by Halah Touryalai concerning the SEC proposal to amend Reg S-P misrepresents the position of Wachovia Securities as it relates to the independent contractor business. Wachovia Securities Financial Network, LLC, is one of the largest independent-contractor firms in the country and an integral part of the Wachovia Securities business model, which provides multiple affiliation choices to financial advisors. Specifically, the article ignored completely Wachovia Securities' position that an exception is necessary for independent reps, because they do not fit the model for which the proposed rule is intended. While our firm ...

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