Investment advisers have told the Securities and Exchange Commission that it should not give the power to examine advisers to the Financial Industry Regulatory Authority, a private company created by brokers to regulate brokers. "There is a lack of public accountability at FINRA, a lack of transparency and a less-than-pristine track record when it comes to their responsibility over brokers," said David Tittsworth, executive director of the Investment Adviser Association.

Full Story:

Related Summaries