RIA Compliance Blog
Another large group in the financial service industry has come forward to oppose authorizing the Federal Industry Regulatory Authority (FINRA) to become the self regulatory organization (SRO) for investment advisers. The American Institute of CPAs (AICPA) has voiced its desire to keep the oversight of investment advisers with the Securities and Exchange Commission (SEC).
The AICPA is the world’s largest association representing the accounting profession. It is interested in the oversight of investment advisers because a number of its members work for firms that are registered or affiliated with a registered investment adviser. Members also provide audit, tax, retirement consulting, plan administration and financial planning services to their clients.
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