SEC Hoping to Take Control Over Adviser Oversight With Stepped Up Exams


The SEC continues its efforts to prove that it is up to the task when it comes to adviser oversight. Chairwoman Mary Jo White recently testified before Congress that increasing adviser examinations is a top priority.

White was before Congress to lobby for additional SEC funding. The agency is hoping for a 27 percent budgetary increase, part of which would be used to hire an additional 250 investment adviser examiners.

“Significant additional coverage is essential if investors are to be appropriately protected,” she stated. White further acknowledged that only eight percent of registered advisers underwent SEC scrutiny in fiscal 2012.

LOADING PDF: If there are any problems, click here to download the file.

Published In: Business Organization Updates, Finance & Banking Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Eckerle Law | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »