Mr. David T Bellaire Esq.

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  www.investmentnews.com/apps/pbcs.dll/article?AID=/20091 - [Cached Version]
  Published on: 10/7/2009    Last Visited: 10/8/2009  

  "FSI supports a self-funded industry-informed regulator for investment advisers," FSI general counsel and director of government affairs David Bellaire said in an interview today. "We believe that should be a separate entity" from the Securities and Exchange Commission, although the adviser SRO should be supervised by the SEC, he said.
  
  Mr. Bellaire, whose organization represents about 120 broker-dealers, stopped short of endorsing the Financial Industry Regulatory Authority Inc. as the SRO for advisers, as has been suggested by some in recent months "No one's really laid out a plan for how they would take on that role," Mr. Bellaire said.
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  About 120 representatives of dually registered broker-dealers and investment advisers represented by the FSI lobbied members of Congress during a Washington meeting last week on the SRO issue, Mr. Bellaire said.
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  The FSI opposes that, Mr. Bellaire said.
  
  "The SEC's got too much on their plate. What we need is a separate, distinct entity that can focus on investment adviser supervision, exams and enforcement," he said.

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  Published on: 3/10/2008    Last Visited: 3/10/2008  

  Round-table panelists (l-r): Karen Tyler, Ira Hammerman, Ron Rhoades, Duane Thompson, David Strege, David Bellaire.
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  "I'm not sure that a fiduciary standard is appropriate in all situations," said David Bellaire, general counsel and director of government affairs for the Financial Services Institute Inc. of Atlanta.
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  Mr. Bellaire agreed that it is difficult for investors "to understand arcane legal definitions and their application to the service that they receive."But, while he believes disclosures could be improved, he said that "much of the disclosures ... that I have seen tend to exalt the role of investment advisers while really insulting brokers that provide services to investors."
  
  It is essential to maintain a distinction between broker-dealers and investment advisers in order to give investors a choice, because brokers tend to be more willing to work with investors with lower account minimums, Mr. Bellaire added.

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  Published on: 1/14/2008    Last Visited: 1/15/2008  

  "The delay is not the full extent of the relief that FINRA is going to offer," said David Bellaire, general counsel and director of government affairs for the FSI.

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  www.investmentnews.com/apps/pbcs.dll/article?AID=/20090 - [Cached Version]
  Published on: 9/13/2009    Last Visited: 9/14/2009  

  The proposal "deserves consideration," said David Bellaire, general counsel and director of government affairs for the Financial Services Institute Inc., which represents independent broker-dealers and financial advisers.

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  www.financialservices.org/content.aspx?id=1518 - [Cached Version]
  Published on: 1/30/2009    Last Visited: 1/30/2009  

  David T. Bellaire, Esq. General Counsel & Director of Government Affairs 770 980-8488 david.bellaire@financialservices.org

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  www.onwallstreet.com/news/independent-advisor-status-sa - [Cached Version]
  Published on: 8/17/2009    Last Visited: 8/24/2009  

  The current business model focuses on serving the investor, rather than the agenda of a corporate parent, said David Bellaire, general counsel and director of government affairs for FSI. "That is not the business that independent firms are staffed to serve," Bellaire said. "They do not have that expertise, and they don't want it."
  
  Rep. Jim McDermott (D-Wash.) introduced the Taxpayer Responsibility, Accountability and Consistency Act of 2009 to the House Ways and Means Committee in July, where it is attracting co-sponsors. FSI has asked McDermott to exclude registered reps from that requirement, Bellaire said. McDermott, however, has received several similar requests from other industries, but has decided not TO honor any of them at this point, he said.

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  Published on: 8/9/2009    Last Visited: 8/9/2009  

  On the other hand, advisory fee revenue from retail clients - which has increased in recent years - does count for SIPC purposes, said Dave Bellaire, general counsel for the Atlanta-based Financial Services Institute Inc., which represents independent-contractor firms.

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  Published on: 6/7/2009    Last Visited: 7/8/2009  

  Woodbury may be ahead of the curve, said David Bellaire, general counsel and director of government affairs for the Atlanta-based Financial Services Institute Inc., an advocacy group for independent broker-dealers and their advisers. Other members are re-evaluating what they review.
  
  The Securities and Exchange Commission and the Financial Industry Regulatory Authority Inc. of Washington and New York do not require broker-dealers to investigate the financial lives of their reps' spouses or significant others.
  
  The move by Woodbury appears to be a response to a recent SEC action against Royal Alliance Associates Inc. of New York, said Mr. Bellaire.

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  www.financialadvisormagazine.com/component/content/arti - [Cached Version]
  Published on: 4/1/2009    Last Visited: 4/14/2009  

  "I question the logic," said David Bellaire, general counsel and director of government affairs at the Financial Services Institute, a membership group for independent broker-dealers and financial advisors.
  
  Bellaire said the issue is more about reviewing, examining and enforcement on the advisory side than it is about dealing with regulatory standards. He said the Bernard Madoff case is a lesson that investment advisors should be held to the same level of supervision and examination as broker-dealers are now.
  
  "Most of our members are dually registered firms used to FINRA, SEC and state exams on the broker-dealer side, and to the SEC and state exams on the investment advisor side," Bellaire said, "And in my experience, these types of advisors hold themselves to the higher standard of the two," depending on the circumstances.

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  www.financialadvisormagazine.com/component/content/arti - [Cached Version]
  Published on: 4/1/2009    Last Visited: 4/14/2009  

  "I question the logic," said David Bellaire, general counsel and director of government affairs at the Financial Services Institute, a membership group for independent broker-dealers and financial advisors.
  
  Bellaire said the issue is more about reviewing, examining and enforcement on the advisory side than it is about dealing with regulatory standards. He said the Bernard Madoff case is a lesson that investment advisors should be held to the same level of supervision and examination as broker-dealers are now.
  
  "Most of our members are dually registered firms used to FINRA, SEC and state exams on the broker-dealer side, and to the SEC and state exams on the investment advisor side," Bellaire said, "And in my experience, these types of advisors hold themselves to the higher standard of the two," depending on he circumstances.

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