Financial Services Committee Debates Changes to Advisor, Broker Regulations

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Financial Services Committee Debates Changes to Advisor, Broker Regulations

Sep 13, 2011

Proposals to create a self-regulatory organization for investment advisors and require advisors from all business types to adhere to a uniform fiduciary standard remain among the most divisive issues facing the financial advisory industry….

"The hearing was a good initial vetting of the issues by the committee, but we think it is important to include in the dialogue those, like financial planner professionals, who will be most directly affected by the proposed discussion draft," Marilyn Mohrman-Gillis, of [CFP Board, part of] the Financial Planning Coalition said in a statement.

"Overall, we don't think there was a compelling case made that an SRO for advisors is the answer to a lot of the problems discussed. We would expect that we'll be talking more about these issues in the coming months," she added. Read more >

Financial Planning
Donna Mitchell
September 13, 2011

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