Combining BrokerCheck With The IAPD?

Thursday, January 27, 2011 01:22
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Combining BrokerCheck With The IAPD?

Word has it that the SEC would like to combine the databases through which investors currently look up either registered reps or RIAs. This would make things easier for the public, but also point toward joint regulation some day.

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The WSJ is running the story and Registered Rep has a link. But the real story here is that the SEC is actively considering this kind of joint treatment.

 

Granted, the typical consumer has no idea how to tell whether an advisor is a broker-dealer rep or an RIA, so there's not much point in making them search twice to find you.

 

But with all the gossip about the possible incorporation of RIAs into the FINRA regulatory framework, it's still got some advisors pondering.

 

 

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