Surprise! The SEC Is Here! Are You Prepared?
November 22, 2017 | Brian Hourihan | Wealth Management
In case you missed it, the U.S. Securities and Exchange Commission examiners in Boston, Mass. have been showing up at registered investment advisors’ offices unannounced to conduct “surprise” examinations.
The SEC has been conducting these unannounced “surprise” exams to:
- Better understand how an RIA operates when it thinks no one is looking.
- Avoid situations where an RIA “cleans up” its compliance program and records after receiving notice of an impending SEC exam with a document request letter.