The SEC Streamlining Exams for Some RIAs Given Limited Budget

Posted on February 4th, 2014 at 10:00 AM

From the Desk of Jim Eccleston at Eccleston Law Offices:

In review of its limited budget for fiscal 2014, the SEC is streamlining its examination process for a group of about 1,000 advisers that have been registered for three years or more but never have been audited.

The streamlined exams will focus on specific high risk areas - such as marketing, portfolio management, conflicts of interest, safety of client assets, and valuation - rather than a comprehensive review. The SEC also will shorten the examination period. The SEC is trying to put examiners in front of more advisors, even if they can’t do full audits. 

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services. 

Related Attorneys: James J. Eccleston

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