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

I cannot thank you enough for your efforts. You have proven to be a valuable resource.

Jim T.

LATEST NEWS AND ARTICLES

1784573564 Law
July 20, 2026
FINRA Arbitration Panel Awards Former J.P. Morgan Financial Advisor $4.25 Million in Defamation Case

A Financial Industry Regulatory Authority (FINRA) arbitration panel awarded a former J.P.

1784303575 Law
July 17, 2026
FINRA Arbitrators Award $2.25 Million Over Life Insurance Strategy

A former financial advisor must pay $2.25 million to clients who alleged he recommended a high-risk life insurance strategy that resulted in significant losses, according to a Financial Industry Regulatory Authority (FINRA) arbitration award.

1784228879 Law
July 16, 2026
Delaware Judge Dismisses United Capital's Poaching Lawsuit Against Osaic With Leave to Amend

A Delaware judge has dismissed United Capital's lawsuit accusing Osaic of improperly recruiting financial advisors and soliciting client assets, but allowed the wealth management firm to file an amended complaint, according to AdvisorHub.