Industry trade groups opposed to Bachus' bill calling for a self-regulatory organization to oversee advisors learned there will be no extra money for SEC oversight.
AIG's CEO suggests that much more delayed retirement ages in financially embattled Europe could help make pensions and medical services more affordable.
Industry trade groups, consumer advocates and advisor partners are gearing up for the House Financial Services Committees hearing Wednesday on Rep. Spencer Bachus bill calling for a self-regulatory organization to oversee advisors.
Peng Chen will be replaced by Thomas Idzorek, who currently oversees Morningstar's investment advisory, retirement and investment management operations.
The Project on Government Oversight says it has serious concerns about FINRA's conflicts of interest, lack of transparency and accountability as an SRO.