States take on fewer advisers than predicted for oversight

05/19/2013 | InvestmentNews (free registration)

The North American Securities Administrators Association originally estimated that 4,000 financial advisers would shift from oversight by the Securities and Exchange Commission to state regulation because of the Dodd-Frank Act. The actual number is much smaller, about 2,100, according to the group. In the three years needed to transition, many advisers expanded enough to remain under the SEC, while others disappeared through mergers or closures.

View Full Article in:

InvestmentNews (free registration)

Published in Briefs: