ARLINGTON, VA. -- The groups representing investment advisors and financial planners that have been advocating for legislation that would enable the SEC to step up its oversight of the RIA sector have shifted gears, turning their lobbying efforts away from the House as they now work to gin up bipartisan support for the measure in the Senate.
At the Investment Adviser Association's compliance summit here on Thursday, Neil Simon, the group's policy chief, recalled lobbying efforts on behalf of a House bill that would have authorized the SEC to collect user fees from advisors to fund more frequent and thorough examinations of industry members.
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