FINRA SRO for RIAs Would Double Cost of SEC Oversight, Study Says

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FINRA SRO for RIAs Would Double Cost of SEC Oversight, Study Says

Dec 15, 2011

CFP Board officials contend that RIAs would prefer to keep the SEC as its overseeing body and oppose either of the other two options, claiming that both would likely cost at least twice as much choosing to fund an enhanced SEC examination program.

"We firmly believe 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, which will be the most appropriate and cost-effective way to achieve the most important goal -- protecting investors," said Kevin Keller, CEO of the CFP Board. Read more >

Financial Advisor
December 15, 2011

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