During his keynote address opening the OneVision 2011: FSI Broker-Dealer conference Monday night, FINRA President and CEO Rick Ketchum did his best to assuage the fears of independent financial advisors in the wake of two recent SEC studies birthed from the controversial Dodd-Frank law and provide a little insight into what they can expect from Washington in the near future.
The studies, both released within the past two weeks, made two things abundantly clear: consumers need more protection in the form of increased regulation of brokers and dealers -- independent or not-- and the SEC doesn't have the cash, resources or institutional knowledge to do it itself.
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