{"id":1174,"date":"2012-12-26T13:51:52","date_gmt":"2012-12-26T13:51:52","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2012\/12\/sec_intends_to_examine_25_of_i"},"modified":"2022-03-10T09:13:59","modified_gmt":"2022-03-10T15:13:59","slug":"sec-intends-to-examine-25-of-i","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-intends-to-examine-25-of-i\/","title":{"rendered":"SEC Intends to Examine 25% of Investment Advisers That Had To Register, Per Dodd-Frank Act, by End of 2014"},"content":{"rendered":"

\t\t\t\tAccording to SEC Office of Compliance Inspections and Examinations Director Carlo di Florio, by December 31, 2014, the Commission plans to have examined 25% of the investment advisers <\/a>that had to register with it after the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 issued its mandate. This will be done via “presence exams” at these investment firms. <\/p>\n

The exams will concentrate on the issues of marketing, valuation, conflicts of interest, portfolio management, and asset verification. Also, the agency’s enforcement division will focus on private fiduciary duties.<\/p>\n

According to di Florio, based on “preliminary observations” from initial presence exams it appears that even though a lot of longtime private investment firms have done a good job in constructing compliance risk management and control programs that work, OCIE examiners still noticed that there were numerous issues when they conducted initial exams, such as deficiencies related to conflicts of interest mismanagement. One example of this is the inflation of certain fees to conceal losses. Also, examiners found that some expenses, such as property rent and salaries, were inappropriately charged to funds instead of to the fund manager. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

According to SEC Office of Compliance Inspections and Examinations Director Carlo di Florio, by December 31, 2014, the Commission plans to have examined 25% of the investment advisers that had to register with it after the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 issued its mandate. This will be done via “presence […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3781],"tags":[],"class_list":["post-1174","post","type-post","status-publish","format-standard","hentry","category-investment-advisers"],"yoast_head":"\nSEC Intends to Examine 25% of Investment Advisers That Had To Register, Per Dodd-Frank Act, by End of 2014 — Investor Lawyers Blog — December 26, 2012<\/title>\n<meta name=\"description\" content=\"According to SEC Office of Compliance Inspections and Examinations Director Carlo di Florio, by December 31, 2014, the Commission plans to have examined — December 26, 2012\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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