 "We've have done the Sisyphus climb" to be given authority over investment advisers. We are not pursuing it at the present time."Richard Ketchum, chairman and chief executive, Financial Industry Regulatory Authority Inc |
Finra Backs Off From Expanding Oversight
Matthias Rieker | Wall Street Journal Online, April 2014
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Summary: Wall Street's self-regulator is no longer trying to extend its reach to registered investment advisers.Finra oversees brokers, who operate under a distinct set of rules from registered investment advisers, or RIAs, who are supervised directly by the Securities and Exchange Commission and the states.
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