Government attempting to ban brokers in NY?!

[jeisensc]

NY cracking down on brokers?

Seems like there’s a bill to enact additional regulations on brokers in NY state. Anyone have a handle on what this bill is introducing and what practical effect it will have on brokers? One thing I found interesting was a requirement for brokers to solicit bids from 3 dealers on behalf of every customer. As if that is supposed to do anything. NY brokers, thoughts?