Statement of FINRA Regarding the SEC's Study on Enhancing Investment Adviser Examinations
WASHINGTON - The SEC has thoughtfully evaluated the need for additional oversight of investment advisers and has rightly concluded that having the ability to leverage SRO (self-regulatory organizations)resources could be advantageous to assisting the Commission. We agree with the SEC that an SRO can augment government oversight programs through more frequent examinations. As we have consistently stated, customers of investment advisers would benefit from the additional protection afforded by SRO oversight. Investors deserve the same level of protection regardless of whether they are dealing with a broker or investment adviser. We also appreciate the SEC’s recognition that SROs have played an important role in protecting investors in the regulation of broker-dealers.