Two House Republicans wrote in a letter to Mary Jo White, head of the Securities and Exchange Commission, that the regulator is compromising protection of "mom and pop" investors by emphasizing regulation of private investment funds. House Financial Services Committee Chairman Jeb Hensarling, R-Texas, and Rep. Scott Garrett, R-N.J., chairman of the panel's subcommittee on capital markets, wrote that the SEC should focus on registered investment advisers.

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