On March 9th, Investment News reported that the University of Mississippi's Business Law Society, started by Mercer Bullard, a securities law professor at the University, plans to create a self-regulatory organization for investment advisers. The SRO is being established in response to a recently released report finding that the SEC lacks the resources to adequately oversee the investment advisory industry. While FINRA would like to add investment advisers to its regulatory purview, according to Investment News, most advisers are opposed to FINRA oversight. New SRO.