FINRA pushes for authority over investment advisers

11/21/2012 | Reuters

Taking up the cause again after this year's elections, the Financial Industry Regulatory Authority is lobbying to be granted oversight over investment advisers. Speaking at the IPA 2012 Annual Fall Conference, FINRA executive vice president of regulatory policy Thomas Selman made the case by noting FINRA's record of independence while attending to business needs. Selman also noted something must be done about the fact that nearly 40% of investment advisers have never been examined by regulators. "The only disagreement has been the manner in which this problem should be solved," Selman said. Read Selman's full comments.

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