Views on improving the integrity of global capital markets
31 July 2015

Vantage Points: Who Should Oversee Registered Investment Advisers? (Video)

Following recent comments by a member of Congress that appear to favor giving the Financial Industry Regulatory Authority (FINRA) jurisdiction over the examinations of investment advisers and congressional deliberations over Securities and Exchange Commission (SEC) funding, the debate over whether to shift oversight from the SEC to a self-regulatory organization (SRO), or another third party, continues.

Kurt Schacht, CFA, managing director of Standards and Advocacy at CFA Institute, and Karen Barr, president and CEO of the Investment Adviser Association, discuss whether the investment management industry should be overseen by a self-regulatory organization — such as FINRA — and whether the SEC has the resources it needs for proper oversight.

Says Barr, “I think the solution is giving the SEC the resources that it needs to do the job — not outsourcing it to FINRA or another SRO. Examinations are a governmental function fundamentally.”

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About the Author(s)
Crystal Detamore

Crystal Detamore is a communications director at CFA Institute and a former columnist for Entrepreneur magazine.

3 thoughts on “Vantage Points: Who Should Oversee Registered Investment Advisers? (Video)”

  1. Tony Frank says:

    The FBI and/or CIA would be appropriate overseers.

  2. Stan Buell says:

    Self regulation is great for the industry but fails when it comes to investor protection. It presents an inherent conflict of interest which industry has proven incapable of managing.

    If industry is to be self regulated effective Governent oversight and an independent from industry consumer/investor proection authority is necessary.

  3. Crystal Detamore says:

    Thank you for your comments.

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