Advisers oppose possibility of falling under FINRA's jurisdiction

10/17/2010 | InvestmentNews (free registration)

Financial advisers are not happy about the prospect of the Securities and Exchange Commission ceding oversight of registered investment advisers to the Financial Industry Regulatory Authority. Columnist Jim Pavia said advisers made their opposition known during a recent industry convention. "I believe it stems from a distrust of the traditional broker-dealer sales model and anything affiliated with it, especially the regulator," said Tom Bradley, president of TD Ameritrade Institutional.

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