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Financial Planning Coalition Urges Passage of Legislation to Improve Investment Adviser Oversight, Better Protect Investors

Apr 19, 2013

Waters-Delaney Bill Would Increase Investment Adviser Examinations

Financial Planning CoalitionThe Financial Planning Coalition – comprised of Certified Financial Planner Board of Standards, Inc. (CFP Board), the Financial Planning Association (FPA) and the National Association of Personal Financial Advisors (NAPFA) – urges Congress to enact the Investment Adviser Examination Improvement Act of 2013, introduced by Representative Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee with Representative John Delaney (D-MD) as an original co-sponsor. 

Authorizing the U.S. Securities and Exchange Commission to collect user fees from advisers to increase examinations is a pragmatic and cost-effective solution to a significant investor protection problem. It will have no financial impact on taxpayers or the federal deficit and is supported by the investment adviser industry. Increasing adviser examinations is good for both consumers and advisers.

The Coalition plans to work with Reps. Waters and Delaney to support this needed piece of investor protection legislation and encourages other members of Congress to enthusiastically endorse this important measure.

About the Financial Planning Coalition

The Financial Planning Coalition, a group representing nearly 75,000 stakeholders, is a collaboration of Certified Financial Planner Board of Standards, Inc. (CFP Board), the Financial Planning Association® (FPA®), and the National Association of Personal Financial Advisors (NAPFA) formed to advise legislators and regulators on how to best protect consumers by ensuring financial planning services are delivered with fiduciary accountability and transparency. To learn more, please visit

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