Financial Industry Regulatory Authority

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PRG and its affiliates do not offer legal or tax advice.

Douglas Goldstein is a registered representative of PRG, member FINRA, SIPC, MSRB, and FSI.

Accounts are carried by Pershing LLC, a subsidiary of the Bank of New York Mellon Corporation, member NYSE, and SIPC.

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We're not AI native.

We're not there yet because everything we do is regulated to have something where they're dealing with FINRA, dealing with the SEC.

Or, you know, security and hacking.

So we're advancing our AI usage as fast as we can do it, where we still think we're protecting the client, the client's data and the business case that we have.

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Emerson Fersch is a registered representative with and securities offered through LPL Financial, member FINRA, SIPC.

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As to your comparisons to prior forms of technology, I agree with you that we can draw from history in order to both avoid the regulatory pitfalls of the past, but also guide us towards a better regulatory framework in the future.

I think what's quite striking about the company's standards authority for frontier AI, also called Staffa, is that they liken it to FINRA, which echoes some of what you were saying.

But the key difference between SAFA is that FINRA had the SEC as a federal regulatory backstop, federal oversight over what was private industry trying to regulate these highly technical financial products.

So the comparison of Safra to FINRA I find quite thin, along with whatever democratic governance illusions they may be trying to garner through that comparison.

I think that if Safra wants to be a truly durable governance framework, it has to include representation from non-lab employees with true voting power.

So that we ensure that whatever policies SAFA ends up promulgating don't just reflect the interests of interested parties and the companies that the body oversees, but actually reflects measured consideration from people that aren't interested.

Investing in securities is speculative and carries a high degree of risk.

We encourage our investors to invest carefully and read the investor information available at the website on the Securities and Exchange Commission's SEC at www.sec.gov and or the Financial Industry Regulatory Authority, FINRA, at www.finra.org. I'm really...

I'm really hopeful that we're seeing more municipalities have more future vision that's going to keep us all safe.

You know, I have to say this, and I never talk about stock price on this program, but I do talk about abusive short selling.

It's somewhat of a new part, but not really.

It's just now FINRA, which is one of our regulatory bodies, is allowing people like us to drag our feet a little bit on some of these requests that seem outrageous, but we need a trusted contact to call and say, hey, Jim, Your mom has been really, you need to give her a call because here's what's going on.

We're not going to give them out a bunch of financial information.

We're not giving them, oh, here's how much they have in their IRA, how much, none of that.