That probably doesn't mean much to those of us who have already given up on holding brokers and bankers accountable.
The 371 still-operating banks on Foresight's "watch list" as of March held brokered deposits that, on average, were twice the norm.
Additionally, members of bank holding companies that have broker dealers cannot serve as so-called public representatives.
Yet, the Dodd legislation sidestepped holding stock brokers to the same standard as RIAs.
The legislation proposed by the administration would cover bank and thrift holding companies currently beyond the reach of the department and holding companies that control broker-dealers, insurance companies and futures commission merchants.
"The more the borrowers keep themselves in the loop," Mr. Neves said, "the more they can hold the broker accountable".
Earlier this year, another developer, Kenneth S. Horn, the president of Alchemy Properties, held a broker party for a new 32-unit boutique condominium called the Isis on East 77th Street.
That could favor companies that cater to workers in lower- to middle-income brackets as opposed to chasing after high-end consumers, said Brad McMillan, chief investment officer for Commonwealth Financial Network in Boston, the nation's largest privately held independent broker group.
Tenants' brokers represent their clients in finding space and in negotiations with landlords' brokers, usually splitting the commission with the broker holding the listing.
But on Feb. 10, Ryan Serhant, an agent at Nest Seekers International, held a brokers' party at Mr. Nahoum's larger penthouse that was filmed for the Bravo program "Million Dollar Listing".
In January, she said, the firm held what brokers like to call an investment workshop at the library.
