WASHINGTON -- Investment advisors and brokers remain a key area of concern for SEC regulators, with the agency's head telling a House panel that she plans to advance a proposal for potentially expanding fiduciary responsibilities later this year.
In testimony before the House Financial Services Committee, SEC Chairman Mary Jo White also lamented the commission's inadequate oversight of the RIA sector amid limited resources and an understaffed team of examiners, telling lawmakers on Tuesday that she hopes to expand the examination staff through a 2015 fiscal year appropriation.
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