RIAs welcome Rep. Frank's reported comments against SRO

08/12/2009 | Financial Advisor online

U.S. Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, said that unless registered investment advisers seek a self-regulatory organization, he won't push for it, according to the news service Complinet. The Financial Industry Regulatory Authority is seen as the most likely candidate to oversee RIAs, an idea that concerns many in the advisory community.

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