FINRA Releases Its Cost Estimates in Assuming Advisor SRO Role
FINRA has released an estimate of what its start-up and ongoing annual investment costs would be should it become the SRO for advisors—an estimate far below projections released by the Boston Consulting Group.
Bachus, McCarthy Introduce SRO Redraft
House Financial Services Chairman Spencer Bachus reintroduced on Wednesday his draft bill calling for an SRO for advisors—one week after industry sources told AdvisorOne that an SRO bill was imminent.
Worried Mutual Fund Leaders Ask: Are We the Auto Industry of Finance?
“The relationship with the advisor as opposed to the product provider has become much more important to investors,” said Boston Consulting Group's Gary Shub during his MFEA talk.
Tom Bradley Says ‘RIAs on the Winning Side’: TD Ameritrade Conference
TD Ameritrade Institutional President Tom Bradley opened the clearing and custodial firm’s annual conference Thursday morning in Orlando with a wide ranging discussion of current hot topics.
The Regulator of Last Resort
Looks like the Financial Planning Coalition and the Investment Adviser Association have gotten attention sponsoring the Boston Consulting Group’s report, “Investment Adviser Oversight: Economic Analysis of Options.”
The Costs of FINRA Oversight of RIAs: Running the SRO Numbers
At last, credible information on the costs of having an SRO—or not—to oversee advisors, and what each scenario would cost RIAs in dollars and cents.
SEC to Get $136M Increase Under New Spending Bill for 2012
Bipartisan deal to avert government shutdown includes $1.3 billion in funding for the SEC in 2012, but $25 million cut from Dodd-Frank reserve fund; extension of payroll tax cut still up in the air.
Advisor SRO Would Cost Twice as Much as Funding SEC Exams
The report, conducted by BCG and funded by advisor groups and TD Ameritrade, was released before a House panel vote on a spending bill that included a $136 million increase for SEC funding.
In Switch, Bachus Backs More SEC Funds for Dodd-Frank
Increased funding for the Securities and Exchange Commission is likely on its way. Rep. Spencer Bachus, R-Ala., chairman of the House Financial Services Committee, said during a hearing on Thursday.
Bachus Blasts SEC as ‘Flawed,’ Pushes Restructuring Bill
House Financial Services Committee Chairman Spencer Bachus, R-Ala., says he is drafting legislation to restructure the Securities and Exchange Commission.