SEC Examination and Enforcement Update for Investment Advisers

Overview

This session will speak about how the examination and enforcement culture has changed at the SEC, the types of SEC exams, and how firms can prepare for them.  The focus will be on the SEC’s latest examination and enforcement priorities, and steps firms can take before, during, and after an exam to improve exam outcomes. 

The course will delve into the examination process from the unexpected first notice to the final follow-up, along with how strong internal controls that are put in place now can help your firm be prepared for a future examination and how to manage the examination once the SEC is onsite. Additional topics to be covered include the firm’s rights during the examination process, common problems the SEC encounters during examinations, and effective strategies for dealing with deficiencies found during an examination. 

Learning Objectives: 

After attending this session, attendees should be able to: 

• List the ways that the current market and regulatory environments affect SEC examinations of investment advisers. 

• Review and address how to handle the SEC’s top Examination and Enforcement Priorities.  

• Demonstrate an understanding of the examination processes from first notice to final follow-up to avoid unnecessary interruption of the firm’s business. 

• Use recent SEC guidance to increase the firm’s preparedness, minimize retrieval time during an examination, and maximize a favorable examination outcome. 

• Address the link between internal controls and SEC examinations. 

• Further limit regulatory risk on both a personal and firm level. 

Who is this for?  

For Whom: Designed to increase the professional competence of investment adviser professionals with legal, compliance and management responsibilities. 

Suggested Skill Level: Intermediate 

Instructional Method: Group Internet-Based and Group Live 

Pre-requisites for participation: No advance preparation or prerequisites are required. However, attendees can benefit by reviewing the Investment Advisers Act of 1940 and related SEC Rules to become familiar with the structure and terms. 

Continuing Education Credits 

Comply Continuing Education Guide 

Recommended CPE Credit: 2 in the Regulatory Ethics field of study 

Recommended IACCP® CE Credit: 2 

Recommended CA MCLE Credit: 2