Investor and Industry Perspectives on Investment Advisers and Broker-Dealers

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Rand Corporation, Mar 12, 2008 - Law - 228 pages
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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