Republican representative Spencer Bachus—one of the co-authors of the recently famed bill paving the way for FINRA to become the self-regulating authority outside the SEC—is now placing self-regulatory ...
... stories currently affecting private wealth advisors. Schoeff got a statement from Spencer Bachus, Republican chairman of the House Financial Services Committee, and Bachus made some surprising comments. ...
Testimony during the Congressional hearing June 6 on the Bachus-McCarthy bill, the Investment Advisor Oversight Act of 2012, was divided along industry lines. The overall consensus was, however, that ...
If you’ve thought that advisors are not expressing opposition to the Bachus-McCarthy bill and the idea of creating an SRO to oversee both brokers and independent advisors, you probably haven’t talked to ...
... s or the incorporation of advisors into a FINRA framework.
As he argues, taking oversight of smaller advisors away from the states would be "a mistake."
Interestingly, Rep. Bachu ...
... hard in Congress for two years to become the SRO but the effort died out after the Bachus-McCarthy bill failed to make its way to a vote.
Investment advisors are opposed to the SRO legislation, saying ...
... forth by Rep. Spencer Bachus.
Hensarling stated that he considers his new role to be that of regulating the regulators. Word is that he will put the SRO bill on the back burner but FINRA is likely ...
...
Hensarling currently serves as vice chairman of the committee and chairman of the House Republican Conference.
He will succeed Rep Spencer Bachus (R-AL) who was one of the authors of a bill designed ...
... for over two years to pass legislation that would rectify the problem. Even the Dodd-Frank Act has not been implemented fully and the Bachus-McCarthy bill is still under commentary.
...
... numbered and that independent RIAs are the advisors of the future. He opposes the Bachus-McCarthy bill, saying it will devastate small businesses and consumers if passed.
Even those in favor of the ...
As its two-year anniversary approaches, the benefits of the Dodd-Frank legislation are being examined—and questioned. The House Financial Services Committee led by Spencer Bachus (R-AL) is challenging ...
As the fight against the adoption of the Bachus-McCarthy bill heats up, powerhouse RIAs are pushing toward a possible tipping point. The bill would force SRO membership on independent advisors. This ...
... to do with the Bachus-McCarthy bill introduced in April but its timing is indeed fortuitous for those opposed to a FINRA SRO role.
FINRA has been fighting to be the designated SRO as proposed ...
... with lawmakers in Washington, DC on June 7 to argue against the bill introduced by House Financial Services Committee chair Spencer Bachus (R – Alabama) in April.
The meeting is viewed as a lobbying ...
... e from the coalition.
FINRA released its cost estimate on April 25, the same day Rep. Spencer Bachus (R-AL) and Rep. Carolyn McCarthy (D-NY) introduced legislation authorizing the creation of an ...
The campaign to make FINRA the self-regulatory organization for Registered Investment Advisers was renewed today as House Financial Services Chairman Spencer Bachus reintroduced legislation that would ...
A Republican bill that would make FINRA the regulatory body for investment advisors may soon come on the floor. Republican Spencer Bachus is drafting the legislation and is expected to introduce it to ...
The head of the House financial services committee, Spencer Bachus of Alabama, is under investigation for possibly violating insider trading laws.
Bachus has established himself among advisors ...
... in the Senate Banking Committee to take RIAs away from the SEC.
Unlike the House, where Financial Services Committee chair Spencer Bachus is eager to launch reforms, the Senate panel is run by Tim ...
... chairman Spencer Bachus continues to demonstrate that while he's been fighting many of the components of the Dodd-Frank reform, starving the SEC is not his primary goal.
In yesterday's Q&A, he acknowledg ...
... good to get rid of it.
And with Representative Bachus himself -- a noted opponent of expanded SEC funding -- now expressing an interest in "preserving what's good about Dodd-Frank," it mig ...
House Republican leadership are trying to figure out exactly how much money the SEC will need to achieve the wider mandate imposed on it by the Dodd-Frank financial reform act.
Reps. Spencer Bachus ...
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