FSI Supports H.R. 4624, Investment Adviser Oversight Act of 2012

On April 25, FSI President & CEO Dale Brown sent a letter to House Financial Services Committee Chairman Spencer Bachus (R-AL) and Ranking Member Barney Frank (D-MA) urging them to pass H.R. 4624, a proposal that would require the Securities and Exchange Commission (SEC) to create a self-regulatory organization (SRO) that would oversee examinations on investment advisers.

H.R. 4624 is authored by Congressman Bachus and will close a significant regulatory gap that allows advisers to go largely unsupervised while broker-dealers performing similar services are subject to regulatory examinations on a two-year cycle. Ultimately, the bill will enhance investor protection and level the playing field for all financial advisers by closing this regulatory gap. Please click here to view the letter and the bill.

For more information, please contact Ryan Caruso at ryan.caruso@financialservices.org.