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    12.15.11 Professor James Fanto on the Cost of Financial Industry Self-Regulation
    James Fanto

    A recent study conducted by the Boston Consulting Group (BCG) concluded that self-regulatory organizations that examine investment advisors may actually cost twice as much as enhanced examination programs performed through the Securities and Exchange Committee (SEC). Examinations done by the Financial Industry Regulatory Authority (FINRA), they reported, would be nearly the same cost as self-regulation. However despite BCG's extensive number crunching, many experts question the results.

    Professor James Fanto, an expert in securities law, told Reuters that he was critical with the fact that BCG did not consult with the SEC or FINRA in their research. "I'm skeptical about the results," he commented.

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BLS LawNotes - Spring 2014

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