Many people believe the economic collapse of the late 2000s and subsequent recession was caused, at least in part, by a lack of regulatory oversight. In response, Congress currently is considering a bill—the Investment Advisers Oversight Act of 2012 (H.R. 4624)—that would subject small and mid-level financial advisers to increased oversight at the hands of a self-regulatory organization.

This proposed legislation would significantly increase the oversight and testing to which smaller and mid-level advisers are subject, resulting in increased oversight fees for these same advisers. Consequently, it is important that the potentially affected advisers understand the proposed legislation, how it will impact their examination requirements and their bottom line.

Current Oversight Scheme Inadequate

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.