Tr?id=566623520170033&ev=PageView&noscript=1

SEC Proposes Enhanced Examination Resources For RIAs in Light of Industry Growth

Posted on July 25th, 2023 at 8:42 AM
SEC Proposes Enhanced Examination Resources For RIAs in Light of Industry Growth

From the Desk of Jim Eccleston at Eccleston Law.

The Securities and Exchange Commission's (SEC) Chair, Gary Gensler, has presented a solution to address the challenge of overseeing the growing number of registered investment advisors (RIA) within the Division of Examinations.

Gensler proposes adding 83 additional full-time employees to the examination unit. However, this proposal has faced criticism from the Consumer Federation of America, which believes merely adding 83 employees will not be sufficient to adequately address the issue.

Furthermore, the Investor Advisory Committee (ICA) recently suggested considering user fees and engaging outside vendors for examinations. However, the idea of using outside vendors has its critics. For example, in an interview with AdvisorHub. general counsel for Investment Advisor Association argues that fostering better cooperation between firms' compliance departments and SEC examiners is the key to addressing the issue effectively.

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Related Attorneys: James J. Eccleston

Tags: Eccleston, Eccleston law, SEC, RIA, Division of Examinations

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

You are the best attorneys in the country.

CC

LATEST NEWS AND ARTICLES

1793294906 Law
October 29, 2026
FINRA Bars Former LPL Financial Broker for Refusing to Cooperate With Investigation

?The Financial Industry Regulatory Authority (FINRA?) barred Buddy Dean Mason, a former LPL Financial broker in Lakeland, Florida, after he refused to provide documents and information during an investigation into a customer complaint involving an alleged outside investment.

1793209405 Law
October 28, 2026
FINRA Panel Orders Kingswood Capital Partners and Executives to Pay Former Advisor $11.3 Million

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Kingswood Capital Partners LLC, CEO Michael Nessim, and Chief Compliance Officer Mohamed Alsoraimi to pay former advisor Rikin Patel $11,341,369.25.

1793123026 Law
October 27, 2026
CFTC Seeks Public Comment on Proposed Crypto Asset Regulatory Framework

The Commodity Futures Trading Commission (CFTC) has issued an Advanced Notice of Proposed Rulemaking (ANPRM) seeking public comment on a potential regulatory framework for retail commodity transactions involving crypto assets, which the agency calls "CTXs." According to the CFTC's press release, the initiative focuses on Section 2(c)(2)(D) of th...