Mark Schoeff of InvestmentNews reports that SEC official wants registered investment advisers to be forced to hire third-party contractors to conduct examinations, increasing the oversight of advisers.
Excerpt: Securities and Exchange Commission member Daniel Gallagher wants registered investment advisers to be forced to hire third-party contractors to conduct examinations.
In remarks at the Financial Industry Regulatory Authority Inc.’s annual conference in Washington, Mr. Gallagher recommended that the SEC write a regulation that would require advisers to hire an examiner to review their operations.
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