Adviser oversight isn't working, FINRA chief says

03/18/2013 | Wall Street Journal, The

Investment advisers must face regular and vigorous exams to ensure that investors are protected, and that is not happening, said Richard Ketchum, CEO of the Financial Industry Regulatory Authority. Speaking to a consumer group, Ketchum also said investment advisers and brokers should face the same fiduciary standard. Some experts say a single standard could pave the way for FINRA to oversee advisers, a role the agency has sought in the past.

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Wall Street Journal, The

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