CFA Institute Letter to House Financial Services Committee on Investment Adviser Oversight PoorSatisfactoryGoodVery GoodExcellent Be the first. (0 ratings) Log in to rate this Submitted on: 4 June 2012 Submitted to: U.S. House Financial Services CommitteeKurt Schacht, CFA | James C. Allen, CFA Read Summary The House Financial Services Committee was scheduled to hold a hearing on the proposed Investment Adviser Oversight Act of 2012 that would require all IAs, whether registered with the SEC or regulated by state agencies, to apply to become a member of a registered national investment adviser association. CFA Institute opposed the proposed Act and stated that increased funding for the SEC would be the best way to improve the frequency and quality of IA exams. The letter cited a survey of investment adviser members in which 57 percent favored continued SEC oversight of registered IAs. Topics Standards, Ethics, and Regulations (SER) : Applicable Laws and Regulations Loading ...