On April 25, your Congressman, House Financial Services Committee Chairman Spencer Bachus (R-AL), introduced the Investment Adviser Oversight Act that would authorize the Securities and Exchange Commission (SEC) to create a Self-Regulatory Organization (SRO) to perform regulatory examinations of investment advisers.
FSI applauds the Chairman’s bill which would close a significant regulatory gap that allows investment advisors to go largely unsupervised while broker-dealers who perform similar services are subject to routine regulatory examinations on a two year cycle. Ultimately, his draft bill will strengthen the marketplace by enhancing investor protection and leveling the playing field for all financial advisors.
Chairman Bachus not only heads the powerful House Financial Services Committee but he is also your Congressman. Please let him know that you support his efforts in protecting consumers by promoting balanced regulatory oversight.
CALL TO ACTION:Please support the Investment Adviser Oversight Act by sending the following thank you note to Chairman Spencer Bachus. The whole process will take less than 5 minutes.
Please fill out your information, view the letter and click send. While the letter provides suggested text, please feel free to personalize it to more accurately reflect how the legislation will enhance your business, the industry and your clients.
It is essential to our advocacy efforts that your voice be heard by Chairman Bachus. So please take a moment today to send the letter.
Thank you again for your continued involvement in FSI.
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