Questioning the SEC’s outsourcing proposal
For advisors who don’t do their homework, the possibility of a regulatory slap on the wrist may be less of a deterrent than a whack in the wallet from aggressive attorneys.
To regulate or not to regulate? That’s sort of the question the Securities and Exchange Commission is grappling with as it receives comments on a proposal that would establish due diligence and monitoring requirements for advisors who hire a third party to perform a “covered” function. The 232
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