As regulators at the Securities and Exchange Commission continue to weigh options as to how to examine more registered investment advisors, one lawmaker is calling for the Financial Industry Regulatory Authority to step in and fill the gap.
The SEC only has the resources to audit about 10 percent of RIAs, a proportion widely regarded as dangerously low by regulators, lawmakers, and even stakeholders in financial services industry.
Now, Rep. French Hill, R-Arkansas, is saying he is exploring legislation that would give FINRA the authority to step in and fill the void.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
