Oversight Act

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  11 Key Congressional Committees for Advisors to Worry About

  By Marlene Y. Satter, AdvisorOne  |  September 20, 2012

  As the election approaches, not just the White House and Congress are in play, but also control of congressional committees important to advisors and others in the financial services sector.

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  Remedy to Boost Advisor Exams Out of Reach This Year

  By Melanie Waddell, AdvisorOne  |  August 21, 2012

  Two important issues for the advisory industry will remain unresolved until next year: how to boost investment advisor exams—either through a self-regulatory organization (SRO) or via user fees—as well as a rule to put brokers under a fiduciary mandate.

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  Rep. Bachus Tells Advisors to Police Themselves

  By John Sullivan, AdvisorOne  |  August 6, 2012

  Federal regulators “whose job is to enforce the law and protect investors from bad actors, often had no clue."

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  To Thwart SRO, Rep. Waters Introduces User Fee Bill

  By Melanie Waddell, AdvisorOne  |  July 25, 2012

  Maxine Waters, D-Calif., introduced on Wednesday a bill that would allow the SEC to collect user fees from advisors to fund their exams in lieu of an SRO.

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  It’s Not Too Late to Make Your Voice Heard on SRO Bill

  By David Tittsworth, IAA  |  July 6, 2012

  If you’re not in favor of having FINRA become the SRO for RIAs, join the advisor grass-roots effort to advocate with Congress against Bachus bill.

• The Heat Rises on FINRA as Advisor SRO

  By Melanie Waddell, AdvisorOne  |  June 26, 2012

  Just as a government watchdog is pressuring the Securities and Exchange Commission (SEC) to beef up its oversight of the Financial Industry Regulatory Authority (FINRA), Congress is mulling whether to give FINRA the power to oversee advisors.

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  SEC Funding Boost ‘Not Going to Happen’: SRO Bill Co-Sponsor

  By Melanie Waddell, AdvisorOne  |  June 26, 2012

  Industry trade groups and consumer advocates opposed to House Financial Services Committee Chairman Spencer Bachus’ bill calling for a self-regulatory organization (SRO) to oversee advisors had their hopes quashed that the Securities and Exchange Commission (SEC) would receive a boost in funding in order to thwart an SRO.

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  SRO Bill May See July Vote; SEC Gets Glint of Hope for Extra Funds

  By Melanie Waddell, AdvisorOne  |  June 14, 2012

  Despite the fact that a late June markup of Rep. Spencer Bachus’ SRO bill was delayed, he still “intends to move the bill forward through committee,” says Dan Barry of FPA.

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  SEC Funding Boost ‘Not Going to Happen’: SRO Bill Co-Sponsor

  By Melanie Waddell, AdvisorOne  |  June 6, 2012

  Opponents of Rep. Spencer Bachus’ bill calling for a SRO to oversee advisors had their hopes that the SEC would receive a boost in funding in order to thwart an SRO quashed on Wednesday.

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  In FSI Testimony Before Congress on SRO, a Call for a Level Regulatory Field

  By Dale Brown, Financial Services Institute  |  June 6, 2012

  In voicing support for HR 4624, FSI believes an advisor SRO will close an unacceptable regulatory gap that leaves investors exposed to potential fraud and abuse at the hands of unscrupulous investment advisors.