Advisor SRO Would Cost Twice as Much as Funding SEC Exams

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Advisor SRO Would Cost Twice as Much as Funding SEC Exams

Dec 15, 2011

Creating a self-regulatory organization (SRO) to oversee investment advisors would cost at least twice as much as providing the Securities and Exchange Commission with adequate funds to examine advisors, a new economic analysis released Thursday by the Boston Consulting Group (BCG) says....

The BCG "study makes the economic case that outsourcing investment advisor oversight to FINRA or a new SRO would cost too much and is strongly opposed by investment advisors," said Kevin Keller, CEO of the Certified Financial Planner (CFP) Board of Standards, at a press conference announcing the study's results. The CFP Board "firmly believes that the SEC should retain oversight of investment advisors and be given the tools to adequately do the job, including the option of imposing user fees." Read more >

Melanie Waddell
December 15, 2011

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