A bill introduced by Rep. Maxine Waters, D-Calif., would permit the Securities and Exchange Commission to impose user fees on investment advisers to help fund examinations. "This legislation answers a funding gap which has been largely responsible for the infrequency of investment adviser exams and represents the simplest and most direct method for achieving the desired result: improved quality and quantity of these exams and another step toward restoration of public confidence in the markets," Waters said. She proposed a similar bill last year, but it never received a hearing.

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