Bill To Make FINRA The SRO For RIAs Reintroduced, Sparking Protest In Some Quarters And Approval In Others Hot

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 create the SRO.

With reporter Melanie Waddell of AdvisorOne recently predicting that creation of the FINRA SRO was imminent, the reintroduction of the bill by Bachus sparked protest in some quarters of the advisor business but was welcomed by others. 

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