These are small businesses with finite resources. Regulation is really becoming a problem for [this segment] of the industry that is trying to grow.

Mark Tibergien

Our Commentary

While exam reform may be a key initiative of FINRA's, as stated in the article, FINRA and the SEC are challenged to keep up with the demands of regulatory exams. It remains to be seen how the states deal with the new inflow of advisors to oversee.