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Investment Advisers

September 13, 2011 – House Financial Services Subcommittee hearing entitled “Ensuring Appropriate Regulatory Oversight of Broker-Dealers and Legislative Proposals to Improve Investment Advisors Oversight.”

The hearing focused on the Securities and Exchange Commission’s study that recommended broker/dealers adhere to stronger standards in advising clients, similar to those that apply to investment advisers. Most witnesses were in favor the uniform standard, which would mandate a fiduciary responsibility to the client, with the exception of representatives from insurance agents.