The House of Representatives has reportedly scheduled September 13 as the date when formal debate on whether investment advisors should switch to a self-regulated model.
We'll be watching to see who the people and groups invited to provide testimony are. Expect at least FINRA to show up to pitch the case that self-regulation -- under the FINRA umbrella or otherwise -- for advisors won't be so bad.
The case for the opposition is more fragmented. Who will Congress invite to argue against a self-regulatory organization for advisors?