SEC launches investment advisers initiative


The Securities and Exchange Commission Office of Compliance Inspections and Examinations (OCIE) has launched an initiative directed at investment advisers that have never been examined.

The initiative focuses on investment advisers that have been registered with the SEC for three or more years.

The OCIE had previously stated that examining these advisers is a priority in 2014.

As part of the initiative, OCIE will conduct examinations of a significant percentage of advisers that have not been examined since they registered with the SEC. These examinations will concentrate on the advisers’ compliance programs, filings and disclosure, marketing, portfolio management, and safekeeping of client assets.

“Our examinations will focus on areas most important to protecting investors,” said Jane Jarcho, national associate director of OCIE’s Investment Adviser/Investment Company examination programme. “We will also promote compliance by engaging with these advisers through outreach efforts.”

Starting later this year, OCIE will invite SEC-registered investment advisers who have yet to be examined to attend regional meetings where they can learn more about the examination process.

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