Monday, June 21, 2010

No Fund for States to Oversee Advisers?

If the legislation that is currently moving through Congress passes, state regulators will take responsibility for the oversight of all investment advisers who manage less than $100 million dollars, a change from the current benchmark of $30 million dollars.

While the state regulators have been pushing hard to increase their power through this piece of legislation, there is one small problem - they don't have the funds to regulate all of these additional advisers.

State Advisor Regulation Strains Budgets



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