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 am so glad I found you! Wow! I appreciate your help, concern and guidance.

RB

LATEST NEWS AND ARTICLES

1793817807 Law
November 4, 2026
Bank of America Faces More Than $1.21 Billion in Penalties Over Money Laundering and Sanctions Failures

Federal regulators have imposed more than $1.21 billion in penalties against Bank of America for anti-money laundering and compliance failures.

1793816912 Law
November 4, 2026
Wells Fargo and Merrill Lynch Agree to $4.4 Million Settlement Over Excessive Trading Commissions

Wells Fargo and Merrill Lynch will pay a combined $4.4 million to resolve allegations that they overcharged customers on small-dollar securities transactions.

1793645928 Law
November 2, 2026
FINRA Finds Florida Broker Violated Regulation Best Interest in Variable Annuity Exchanges

The Financial Industry Regulatory Authority (FINRA) has found that a Florida-based registered representative violated Regulation Best Interest (Reg BI) by recommending that eight retired clients exchange their variable annuities.