Adviser SRO Revived by Congressman Bachus

August 6, 2012



While it was recently reported that House Financial Services Committee Chairman Spencer Bachus had suspended his proposal to shift adviser regulation from the SEC to a self-regulatory organization (“SRO”), he recently called for the enactment of the Investment Adviser Oversight Act in an editorial in the Wall Street Journal.  This bill, which was introduced by Representative Bachus and Representative Maxine Waters in January 2011, offers options to addressing the SEC’s resources problems and needs, which included the option of an adviser SRO.  In the editorial, he pointed out the need for a SRO to perform inspections of investment advisers.  He further stated that an investment adviser on average is inspected by the SEC once every ten years.

Click here to access the bill.


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