"With the regulations and liability being forced upon the brokers, I can foresee the extinction of the independent brokers—Haywood Securities, PI Financial, Leede Financial, Jordan Capital Markets, Toll Cross Securities, Byron Capital Markets—because they're not built to be asset gatherers. They're not built to be in competition with the big banks. The investors who do want to play the Venture market are going to get forced into the discount houses, where there is no expertise to encourage or help them."

Interview: Brian Sylvester, The Gold Report