The SEC’s newly issued regulations under Dodd-Frank has made their examinations more stringent, requiring private fund advisers to meet more thorough disclosure standards. To ace their SEC exam, advisers must be ready.
What are the critical elements in preparing for an SEC exam? How can a mock exam be a helpful preparation tool? Long before hearing from the SEC, firms should create an examination strategy for achieving full regulatory compliance. Discover how.
What are the stages of an SEC exam? What should a Chief Compliance Officer expect? In parallel with the implementation of the SEC rules, the OCIE has revised its approach to examinations to make them more stringent. More private fund advisers will receive greater examination scrutiny. But the consequent potential for decreased systemic risk and increased investor confidence will be a significant benefit for the industry as a whole.
What regulatory areas typically receive the most scrutiny? Long gone are the days of firms being randomly selected for examinations. Advisers are now selected for risk factors, including a large volume of AUM, numerous industry affiliates, use of complex investment strategies and products and the firm’s regulatory history.