The Quest To Create An SRO For Investment Advisers

Law360, New York (November 4, 2011, 5:32 PM EDT) -- There has been much talk recently of creating a self-regulatory organization for investment advisers. Whether this will ever actually happen remains to be seen. But we thought it would be a worthwhile exercise to review the current state of play.

Of course, to create such an entity would require an act of Congress. So, on Sept. 8, 2011, U.S. Rep. Spencer Bachus, R-Ala., chairman of the House Financial Services Committee, introduced a discussion draft of the Investment Adviser Oversight Act of 2011[1] (the Bachus Proposal), which...
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