No SRO for Investment Advisers Anytime Soon

Controversial legislation that would create an SRO for investment advisers -- a proposal that investment advisers hate -- has been put on hold, says its sponsor, Rep. Spencer Bachus, Chairman of the House Financial Services Committee, because of lack of consensus about how to improve the examination of investment advisers.  Yesterday Rep. Maxine Walters introduced a bill that would allow the SEC to charge user fees for exams, an approach that in the past has gone nowhere.  InvNews, SRO bill dead for now