Updated Wednesday, November 26, 2014 as of 7:46 AM ET

New Boost for RIA Exam Funding Bill

WASHINGTON -- Legislation to step up the frequency of SEC examinations of investment advisors received a boost, winning its first Republican endorsement from Rep. Spencer Bachus (Ala.) on Thursday. In the last congress, Bachus, who then chaired the Financial Services Committee, favored an alternative approach that would have outsourced SEC exams to a self-regulatory organization.

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