GAO Report Could Be First Step Toward Regulating Financial Planners

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GAO Report Could Be First Step Toward Regulating Financial Planners

Jan 17, 2011

In a Washington where Republicans are ascendant — taking over the House and increasing their Senate numbers to a level that ensures filibuster success — the term "regulation" is unpopular.

That is, unless you're talking about financial planning. The Certified Financial Planner Board of Standards Inc. is hoping that a Government Accountability Office study expected to be delivered to Congress tomorrow shows the need for greater oversight of the sector.

"It's not often that an industry seeks more regulation," Marilyn Mohrman-Gillis, managing director of public policy and communications at the CFP Board, said in a conference call with reporters last week. "We believe fundamentally that this is a consumer-protection issue."
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Investment News
Mark Schoeff Jr.
January 17, 2011
Speaker's Bureau
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