Bachus Bill
FINRA ready to step into oversight role for financial advisorsPosted by RJ and Makay on Oct 06, 2011 |
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Congressional legislation that authorizes one or more self-regulatory organizations to oversee registered investment advisors (RIAs) is “directionally, exactly what we want,” said Stephen Luparello, vice chairman of the Financial Industry Regulatory Authority (FINRA). Most of the cost of assuming oversight of advisors is already contained within FINRA infrastructure, according to Luparello, who heads regulatory operations at FINRA.
