Differing Views on Investment Adviser SRO
Yesterday, the House Financial Services Committee held a hearing on HR 4624, the Investment Adviser Oversight Act, to gather viewpoints on whether investment advisers should be regulated by a self-regulatory organization (SRO) or by the US Securities and Exchange Commission (SEC). The legislation is sponsored by Committee Chair Representative Spencer Bacchus, R-Ala.
The Act would change regulation for investment advisers to a self-regulatory organization rather than regulation by the state securities commissioners or the SEC.
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