WASHINGTON — Broker-dealers from midsize regional firms converged on Capitol Hill and the Securities and Exchange Commission Wednesday to vent frustration with regulatory delays and what they see as an uneven playing field for dealer financial advisors and independent FAs.

About a half-dozen members of Bond Dealers of America met with Sens. Tim Johnson, D-S.D., and Richard Shelby, R-Ala., the chair and ranking Republican of the Senate Banking Committee, and Reps. Spencer Bachus, R-Ala., and Barney Frank, D-Mass., the chair and top Democrat of the House Financial Services Committee, as well as Sen. Mike Crapo of Idaho, the banking committee's second-most senior Republican.

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