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Broker vs. Advisor Regulation: It's the Principle of the ThingPublished by: TowerGroup Published: May. 18, 2009 - 7 Pages Table of Contents
AbstractTowerGroup anticipates a mix of rules-based and principles-based regulation will finally settle the definition of broker and advisor.The best scenario for regulatory reform entails examination of registered investment advisors (RIAs) by the Financial Industry Regulatory Authority (FINRA) and oversight by the Securities and Exchange Commission (SEC). Any new regulatory reform could add 10-20% to compliance cost for RIAs and would have the greatest impact on the firms with the least assets under management. TowerGroup believes the brokerage industry will have ample time to make the changes required by regulatory reforms promised by the Obama administration, with vendors and service providers playing a more critical role than ever before. Technology suppliers that make customer, transactional, and financial data more accessible to third parties will have the competitive advantage. The larger platform providers have an opportunity to create additional revenue with the RIAs by building out compliance outsourcing capabilities beyond the consulting services RIAs offer today. Get Full Details About This Report >> |
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