Financial advisers' SRO bill could face Senate opposition

09/22/2011 | AdvisorOne

A proposal by Rep. Spencer Bachus, R-Ala., chairman of the U.S. House Financial Services Committee, to put financial advisers under the supervision of one or more self-regulatory organizations could meet resistance in the Senate. Senate banking committee Chairman Tim Johnson, D-S.D., thinks the SRO approach needs "further exploration before moving forward," a spokesman said.

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