SEC Announces 2013 Examination Priorities

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On February 21, the SEC published its examination priorities for 2013. Priorities in each program area include: (i) for investment advisers and investment companies – presence exams for newly registered private fund advisers and payments by advisers and funds to entities that distribute mutual funds; (ii) for broker-dealers – sales practices and fraud; (iii) for market oversight – risk-based examinations of securities exchanges and FINRA; and (iv) for clearing and settlement – transfer agent exams, timely turnaround of items and transfers, accurate recordkeeping and safeguarding of assets. SEC Release. Examination Priorities.