An advocacy group that has been the most vocal in supporting Finra’s effort to expand its reach to include investment advisers isn’t saying that the devil made it do it. But a week before a House hearing on legislation that would pave the way for the Financial Industry Regulatory Authority Inc. to assume the adviser oversight role, the chairman of the Financial Services Institute Inc. tried to ease adviser qualms about Finra’s becoming its regulator by saying that it is best to be overseen by “the devil we know.” More in Investment News here.
