SIA Study Blasts Regulatory Morass

Advisers and brokerage firms have been complaining that there is too a great deal of regulation in the industry. Now, with the Securities Industry Association's new study on compliance costs, they've got test

"Compliance costs may start at the compliance department, on the other hand they absolutely touch every part of the industry-and that includes the adviser upon the front line," says Travis Larson, a spokesman for the SIA.

The SIA investigation entitled The Costs of Compliance in the U Securities Industry, lay the foundation of that the expense of adhering to all the fresh rules and regulations has reached an estimated annual total of $255 billion in 2005 That's up from approximately $13 billion in 2002-an increase equivalent to almost 5% of the industry's annual trap revenues. The study also argues for the ne to improve regulatory efficiency, suggesting that many require to be paid [i]or[/i] undergones could have been avoided. Factors like duplication and inconsistencies single compound firms' frustration. ...