'We are waiting direction from the chair,' says deputy director of Investment Management Division
Two weeks ago, Rep. Spencer Bachus said his SRO bill was on indefinite hold. But after his strident Op-Ed piece in Monday's WSJ, the issue is again front and center.
A veteran regulator who has been instrumental on issues involving the investment advisory sector is leaving the Securities and Exchange Commission.
Although a chasm separates Democrats and Republicans over most of the Bush tax cuts, the difference between them on taxation of investment income is more of a rift. Democrats are seeking a 20% rate on dividends and capital gains, while the GOP wants to set it at 15%.
GOP hopping mad that issue is left out of Senate Democratic bill.
Legislation to limit scope of municipal adviser regulation draws bipartisan support; subcommittee vote Aug. 1
