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.
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.
Hearing on Bachus' SRO Bill Set for June 6
The House Financial Services Committee announced Wednesday that it will hold a hearing on June 6 on the redraft of Rep. Spencer Bachus’ bill calling for an SRO to oversee advisors.
Bachus Reintroduces SRO Bill
House Financial Services Chairman Spencer Bachus reintroduced in late April his draft bill calling for a self-regulatory organization (SRO) for advisors.
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."
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.
Fiduciary Standard Loses 3 Battles, but War’s Not Over Yet
Perhaps the worst setback: DOL to reconsider its fiduciary rule for retirement plans.
The Bachus Draft and the Move Toward Private Regulation of Advisors
After testifying before the House subcommittee on the draft legislation, our intrepid blogger explores and explains what it means for advisors.
Bachus’ SRO Bill: An Opening to Keep Independent Advice Alive?
Fi360’s Kristina Fausti delivers the good news-bad news message on Spencer Bachus’ draft SRO bill. Will Republicans protect small businesses, like advisory firms?