Summary: Despite FINRA backing off a bid to become the regulator for registered investment advisors, some still fear the authority's scrutiny if the Securities and Exchange Commission moves forward with third-party examinations.
 My fear is [the third-party examiner notion] will gain some traction because Congress is unlikely to give SEC the money it needs to properly staff up ... and despite our advocacy of the user-fee notion, it’s just not gaining bi-partisan support.”Neil Simon, vice president for government relations, Investment Advisor Association. |
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