SEC Funding Boost ‘Not Going to Happen’: SRO Bill Co-Sponsor
Opponents of Rep. Spencer Bachus’ bill calling for a SRO to oversee advisors had their hopes that the SEC would receive a boost in funding in order to thwart an SRO quashed on Wednesday.
In FSI Testimony Before Congress on SRO, a Call for a Level Regulatory Field
In voicing support for HR 4624, FSI believes an advisor SRO will close an unacceptable regulatory gap that leaves investors exposed to potential fraud and abuse at the hands of unscrupulous investment advisors.
Are Ketchum’s Arguments for SRO the Best FINRA Can Come Up With?
My response to reading the FINRA chief’s testimony before Congress on advisor SRO: Really, dude?
Combatants Gear Up for SRO Hearing
Their collective rallying cry: an SRO isn’t needed—particularly if that SRO is FINRA. What to do instead? Fund the SEC so that it can conduct more frequent advisor exams.
GAO Criticizes FINRA, SEC on Oversight
Serious questions are being raised about the effectiveness of FINRA and whether the SEC spends enough time overseeing this self-regulatory agency.
Why Bachus’ SRO Bill Misses the Target
Bachus’ SRO bill would impose rigid exam standards on state regulators without corresponding standards on either the SEC or SROs.
Bachus’ SRO Bill Blasted by Government Watchdog
The nonpartisan Project on Government Oversight told Reps. Spencer Bachus and Barney Frank in a letter on Tuesday that it opposes Bachus’ bill to create an advisor SRO.
FINRA Hits Back in Battle Over Advisor SRO
FINRA is now refuting a review, done by Boston Consulting on behalf of several investment advisory trade groups, that challenged FINRA’s cost estimates in assuming an SRO role.
Why FINRA Is the Right SRO for RIAs
FSI Chairman Joe Russo lays out the FSI’s arguments for FINRA as the best SRO for RIAs, and says 75% of FSI advisor members concur with the group's position.
Some Questions—and Answers—on the Spencer Bachus SRO Bill
Some of the answers: FINRA is the only viable option that has been identified as an SRO and, as Mercer Bullard commented, "the bill would impose a tax on small advisory businesses...and mainstream investors they represent."