Industry agrees on need for more supervision, but parts company on who should conduct examinations of investment advisers. Trade groups representing financial advisers faced off on Capitol Hill at a House hearing and with back-to-back fly-ins. At issue: Legislation that would establish one or more self-regulatory organizations (SROs) to oversee investment advisers. At the Financial Services Committee hearing June 6, the witness table was stacked four to two in favor of the bill. However, opponent David Tittsworth, executive director and executive vice president of the Investment Adviser Association, got the most airtime. IAA favors a user fee on investment advisers so… Read More