Lobbying over the contentious issue of regulatory oversight of investment advisors will likely continue deep into the next session of Congress, with some advocacy groups working to scuttle the measure altogether in an election-shortened legislative calendar.
The issue came under the spotlight in September, when a House Financial Services subcommittee held a hearing on proposals for oversight of the sector. Earlier in the month, committee Chairman Spencer Bachus (R-Ala.) circulated draft language of a bill that would authorize the Securities and Exchange Commission to appoint a self-regulatory organization to oversee retail investment advisors.
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