One of the more anticipated and debated outgrowths of the Dodd-Frank Act was the designation of a self-regulatory organization responsible for investment advisers.  Yet, it has recently been reported that this issue is dead for the current Congressional session, although likely to come back again.

The only consensus thus far is that the SEC is

In a speech by SEC Commissioner Elisse B. Walter, the SEC, apparently, is indicating a significant shift in its view of cross-border cooperation. 

Over many years, the SEC has been viewed as the nearly primary global regulator of the securities markets.  Although this sentiment is not always shared by our brethren overseas, it has been, frankly, a

Apparently, despite the Inspector General change, the SEC continues to be beset by problems with its internal operations that its Inspector General has recently pointed out.  The OIG has detailed in several reports problems relating to privacy violations as well as building security issues, among other areas.  Additionally, the OIG has indicated that it will be releasing several

Despite the fact people are still unemployed, the drought rages and farmers suffer, and the deficit continues to grow, Congress seems to float absurd legislation across the partisan divide to regulate the regulators and the market.

In particular, the House passed a bill that would tighten the cost-benefit analysis for both the SEC and CFTC

Apparently, despite requiring public companies and regulated entities to prepare for business disruptions, the SEC’s house does not seem to be in order.

In a recent report, the SEC was criticized for not having a comprehensive business disruption program, and allowing certain important activities to be at risk if there was a business disruption.  For example, the SEC

Yogi Berra’s famous quote seems like it was written for SEC Enforcement Division Director Robert Khuzami, and what has become his all too frequent outcry regarding lawyers who practice before the SEC.  He claims that attorney misconduct is occurring frequently enough that he has to raise these issues once again.  Khuzami claims that problematic attorney

The battle lines are being drawn over Congressman Bachus’ bill which would authorize one or more self-regulatory organizations for investments advisers.  Many have believed that FINRA would be the obvious choice to take on this new role.  Not Congresswoman Maxine Waters, the second-highest ranking Democrat on the Financial Services Committee; she favors the SEC keeping oversight

Recently, SEC Chairman, Mary Shapiro, was called to task for the high number of reported administrative proceedings by Congress.  In particular, the SEC was accused of reporting follow on administrative proceedings as if they were new actions when it announced the yearly enforcement statistics. 

Such reporting gives the indication that the SEC is bringing more cases than 

Congressman Bachus (R-Ala.) introduced a bill that would shift the oversight of registered investment advisers from the SEC to a self-regulatory organization that would report to the SEC.  This development represents the crystallization of one of the fears emanating out of Dodd-Frank, which mandated that the SEC study how to tighten oversight over RIAs.

Advisers fear that an