{"id":1431,"date":"2014-04-12T15:34:31","date_gmt":"2014-04-12T15:34:31","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2014\/04\/finra_doesnt_want_oversight_ov"},"modified":"2022-03-11T09:18:48","modified_gmt":"2022-03-11T15:18:48","slug":"finra-doesnt-want-oversight-ov","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-doesnt-want-oversight-ov\/","title":{"rendered":"FINRA Doesn\u2019t Want Oversight Over Financial Advisers, Says CEO Ketchum"},"content":{"rendered":"

\t\t\t\tAccording to Financial Industry Regulatory Authority CEO Richard G. Ketchum, the regulator no longer wants to be given oversight over financial advisers. Speaking to The Wall Street Journal<\/em>, Ketchum said the self-regulatory agency had done all it could to be granted authority over investment advisers and has decided to stop with additional attempts.<\/p>\n

FINRA currently oversees brokers. Meantime, the Securities and Exchange Commission and the states oversee registered investment advisers. The SEC had been exploring having FINRA or another agency police RIAs instead. However, the majority of investment advisers were against such a move because of the way FINRA handles enforcement. They don’t think the regulator understands the way investment advisers operated.<\/p>\n

Ketchum is now saying that Congress should give the SEC the resources it needs to enhance its examination program of advisers. The Commission has been asking for more money because it can only afford to examine investment advisor firms about once a decade, which isn’t much oversight at all.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

According to Financial Industry Regulatory Authority CEO Richard G. Ketchum, the regulator no longer wants to be given oversight over financial advisers. Speaking to The Wall Street Journal, Ketchum said the self-regulatory agency had done all it could to be granted authority over investment advisers and has decided to stop with additional attempts. FINRA currently […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3825,3739,3781],"tags":[],"class_list":["post-1431","post","type-post","status-publish","format-standard","hentry","category-financial-advisers","category-finra","category-investment-advisers"],"yoast_head":"\nFINRA Doesn\u2019t Want Oversight Over Financial Advisers, Says CEO Ketchum — Investor Lawyers Blog — April 12, 2014<\/title>\n<meta name=\"description\" content=\"According to Financial Industry Regulatory Authority CEO Richard G. 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