SEC Examinations

The SEC currently examines about 15% of the Commission-registered investment adviser universe each year. Preparing for the possibility of your firm being selected for an exam is mission critical. This collection will help in that effort.

You can find our continuously updated news on exams, including priorities, focus areas, peer-proven prep practices, and selection criteria. You can also access document request letters, risk alerts, sweep correspondence and more.

LATEST SEC EXAMINATIONS COVERAGE

Post-commitment fees: A disclosure challenge

'If the disclosures were misleading or conflicts weren’t properly disclosed and it resulted in inflated fees, then you could see enforcement activity,' Weil, Gotshal & Manges' Andrew Dean says

SEC attrition rate quintupled in FY ‘25

Thirteen percent of staff walked out the door after Elon Musk's DOGE raid. 'In practical terms, this puts more responsibility on asset managers,' Major, Lindsey & Africa's Allison Rosner says.

Practice tips: Post-commitment fees

These 4 tips can help you reduce your risks

New SEC risk alert targets marketing

This latest risk alert suggests that the Commission thinks the industry needs additional help mastering the advisers' marketing rule

SEC Risk Alert: Additional observations on compliance with the Marketing Rule

The Division continues to focus on advisers’ compliance with the Marketing Rule. The staff is sharing these observations to continue to promote compliance with the rule

Avoiding exam deficiencies: Conduct ongoing account monitoring

These cases provide clear takeaways. First, share 'sufficient information' so that your intended audience can adequately understand the ads

THE LATEST

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