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SEC Will Explore Regulation of Advisors

At an upcoming roundtable on investment advisors May 23, the Securities and Exchange Commission will explore whether investment advisors should form a self-regulatory organization in the manner of the National Association of Securities Dealers, among other issues.

The meeting will also look into whether the lines between investment advisors and broker/dealers are blurring and, therefore, whether it is fair for certain investment advisors to be exempt from NASD rules.

The SEC will also explore whether or not advisors should be held to standard advertising rules on performance, in addition to fair trading practices, including those regarding soft dollars, best execution, allocation and personal accounts. The roundtable, which will be open to the public, will be held at the SEC in Washington, D.C.