Saturday, September 10, 2011

FINRA and State Securities Officials Will Testify at House Hearings on Legislation Creating Investment Adviser SRO

The witness list for tbe upcoming hearings by the House Financial Services Committee on the draft legislation establishing an SRO for investment advisers includes FINRA representation and state securities representation. The legislation, sponsored by Chairman Spencer Bachus (R-ALA), would establish an SRO for investment advisers registered with both the SEC and state authorities. William E. Dwyer III, Chairman, Financial Services Institute will testify at the hearing, as well as Steven D. Irwin, Commissioner, Pennsylvania Securities Commission, on behalf of the North American Securities Administrators Association and Richard G. Ketchum, FINRA Chairman and Chief Executive Officer.Barbara Roper, Director of Investor Protection, Consumer Federation of America. will also testify. as well as David Tittsworth, Executive Director/Executive Vice President, Investment Adviser Association