Should Investment Advisers Be Regulated, and If So, How?

Policy Forum
September 25, 2012 10:30AM
Hayek Auditorium
Featuring Mark Calabria, Director, Financial Regulation Studies, Cato Institute; Hester Peirce, Senior Research Fellow, Mercatus Center, George Mason University; David Tittsworth, Executive Director, Investment Adviser Association; Paul Sherman, Attorney, Institute for Justice; Knut A. Rostad, President, Institute for the Fiduciary Standard; Harvey Pitt, Former Chairman, U.S. Securities and Exchange Commission; Marcus Stanley, Policy Director, Americans for Financial Reform; Ron Rhoades, Assistant Professor, Alfred State College, SUNY College of Technology.

Whether investment advice should be regulated at the federal level has remained a contentious issue since at least the passage of the 1940 Investment Advisers Act, when Congress injected the Securities and Exchange Commission (SEC) into what had previously been a common law driven regulatory regime. Dodd-Frank’s Section 913 again inserts SEC into the process by requiring the SEC to study whether investment advisers and broker-dealers should be held to similar standards of conduct. Panelists will examine both the rationales for the current regulatory framework for investment advisers and whether that framework should be merged with the existing standards applied to broker-dealers.

This event is co-sponsored by the Institute for the Fiduciary Standard.

10:30 - 11:45 a.m. Panel 1: The Regulation of Investment Advice

Moderator:
Mark Calabria
Director, Financial Regulation Studies, Cato Institute

Hester Peirce
Senior Research Fellow, Mercatus Center, George Mason University

David Tittsworth
Executive Director, Investment Adviser Association

Paul Sherman
Attorney, Institute for Justice


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12:00 - 1:15 p.m Panel 2: The Fiduciary Standard, for Advisers and Brokers?

Moderator:
Knut A. Rostad
President, Institute for the Fiduciary Standard

Harvey Pitt
Former Chairman, U.S. Securities and Exchange Commission

Marcus Stanley
Policy Director, Americans for Financial Reform

Ron Rhoades
Assistant Professor, Alfred State College, SUNY College of Technology


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