The FAA has used designated company employees to oversee and validate some safety testing for more than two decades, a practice critics complain has inherentconflictsofinterest.
The advisors say they'd rather pay a new fee to the SEC to fund more inspections than come under an SRO, with its costs and inherentconflictsofinterest.
If the regulators truly believe that the main element of their structural reforms, the separation of equity research from investment banking, will remove Wall Street's inherentconflictsofinterest, they are mistaken.
Whereas earlier he vowed to avoid the conflictsofinterestinherent in taking financial stakes in companies he covers, now he is promising only to be transparent about them.
Its model is "without the conflictsofinterest that are inherent in the structure of most Wall Street firms, " Chief Executive David Pottruck was quoted saying late last year.