Investor and Industry Perspectives on Investment Advisers and Broker-Dealers

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Rand Corporation, Mar 12, 2008 - Law - 228 pages
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In theory, financial professionals are relatively distinct: A broker-dealer conducts transactions in securities on behalf of itself and others; and an investment adviser provides advice to others regarding securities. Different laws regulate each type of professional, but boundaries have blurred. This report examines current business practices and investor understanding of each type.
 

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Contents

Domestic Intelligence in Context
1
Chapter Two Defining Domestic Intelligence
15
Chapter Three Current Domestic Intelligence Arrangements andTheir Performance
21
Chapter Four A Range of Options for Improving Domestic Intelligence
43
Chapter Five Assessing Structural Options
55
An Approach forConsidering the Uncertain Costs and Benefits ofOrganizational Change
89
The Path Forward
101
Appendix A Expert Panel Participants
109
Appendix B Domestic Program Map
111
References
113
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About the author (2008)

Gregory F. Treverton is director of the RAND Corporation's Center for Global Risk and Security. Earlier, he directed RAND's Intelligence Policy Center and its International Security and Defense Policy Center and was associate dean of the Pardee RAND Graduate School. His recent work has focused on terrorism, intelligence and law enforcement, with a special interest in new forms of public-private partnership. Dr Treverton has served in government for the first Senate Select Committee on Intelligence, handling Europe for the National Security Council (NSC); most recently, he served as vice chair of the National Intelligence Estimates (NIEs). He holds a B.A. summa cum laude from Princeton University and a master's degree in public policy and a Ph.D. in economics and politics, both from Harvard University. His books include Reshaping National Intelligence for an Age of Information (Cambridge University Press, 2001), New Challenges, New Tools for Defense Decisionmaking (2003) and National Intelligence Systems: Current Research and Future Prospects (Cambridge University Press, 2009, coedited with Wilhelm Agrell).

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