As of midyear, the Financial Industry Regulatory Authority's $450,000 in lobbying expenditures in Washington is down from the $550,000 spent in the first half of 2012, though still far more than figures for other investment advisor groups. The Financial Services Institute, however, has stepped up its lobbying, with outlays of $399,000 in the first half, up from $180,000 a year earlier. FSI has also increased its in-house and outside lobbying personnel.

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