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Examinations: Best Practices

Any CCO should sit in on employee video calls with the SEC, just as a compliance officer—or other firm examination liaison—should be in the room ...
Investment advisers and broker-dealers should take extra steps to make sure they’re validating investors’ identities and the authenticity of disbursement instructions, and have “a trusted ...
Investment advisers are already struggling at laying out their firms’ relationship summaries, the SEC says. IAs were required to publish their Form CRS beginning June ...
The SEC’s recent private funds risk alert points to structural problems in the industry—problems that the Commission itself is in a unique position to help ...
New Jersey regulators will examine investment advisers on how well they’re protecting elder clients from fraud, state Attorney General Gurbir Grewal says. The Garden State’s ...
The coronavirus crisis has forced many firms to stitch together patchwork telecommuting arrangements even as the world economy faces its worst days since the 1930s. ...
Be aware that examiners may question your logic for placing clients in certain share classes
Karen Huey of Professional Compliance Assistance in Woodstock, Ga., gives us permission to share with you her 18-point guide to an on-site exam by OCIE.
Get the jump on your next exam
OCIE Exam Priorities - Regulatory Compliance Watch
Summertime and the living is easy, but that’s not why this is an exciting time for the SEC’s Alicia Tate. “It’s my favorite time of ...
Surprises are certainly the enemy of compliance. Given that staff interviews are a growing staple of most SEC exams, conducting mock interviews with key personnel ...
OCIE Exam Priorities - Regulatory Compliance Watch
Similar to about 40% of advisers, the firm indicated on its Form ADV, Part 1 that it has custody. But when OCIE examiners showed up ...
The recent NFA exam of a CPO adviser in the south went swimmingly, according to the firm’s CCO. One reason may be because the firm ...
A glance at a recent OCIE document request letter leaves no doubt of examiners’ interest in advisory fees. This isn’t a state secret given the ...
IA Watch has obtained a copy of an Excel file demonstrating the trade blotter format OCIE would like firms to submit during an SEC exam. ...
Seeing continued “problematic” cybersecurity practices in its examination and risk monitoring program, FINRA has stepped in with a new report detailing “effective practices” it has ...
FINRA has again delivered an early holiday present for the brokerage industry in the form of the SRO’s 2018 Report on Examination Findings. The second ...
The SEC has upped its game with respect to investment adviser examinations given the ever-increasing number of registered IAs and one of its commissioners is ...
As OCIE demonstrated recently with its cash-solicitation risk alert (IA Watch, Oct. 31, 2018), advisers often fail to show they’ve done due diligence to ensure ...
No one’s surprised to learn that OCIE will check to see if an adviser is charging proper fees. What might astonish is that a lot ...
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