The Financial Industry Regulatory Authority says that it would cost between $12 million and $15 million to establish FINRA as a self-regulatory organization for advisers, and between $150 million and $155 million annually to administer the program. That's markedly less than had previously been estimated by the Boston Consulting Group, which projected startup costs of $200 million to $255 million and ongoing costs of up to $510 million a year.

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