FINRA Approves Proposed Rule Changes to Arbitration for Submission to SEC

Investor Education, News ReleasesBy Jason DossApril 22, 2013

On April 19, 2013, the FINRA Board of Governors approved several proposed rule changes that now will be submitted to the SEC for review and approval. Two that center on the FINRA arbitration process are detailed below: First, the Board authorized FINRA to file with the SEC proposed amendments to FINRA Rule 12403 which would…

Rep. Waters Introduces Bill that Allows SEC to Charge User Fees to Investment Advisors

Investor Education, News ReleasesBy Jason DossApril 22, 2013

On April 19, 2013, Rep. Maxine Waters introduced legislation that would allow the SEC to charge user fees to investment advisors to fund their oversight. Ms. Waters said that the SEC needs a source of revenue dedicated to regulating advisors and the bill would authorize fees to fund investment advisor examinations. Under the bill, the…