The Securities and Exchange Commission has announced a new initiative aimed at investment advisers who are registered with the agency but have never been scrutinized.
The National Exam Program, run by the SEC’s Office of Compliance Inspections and Examinations, will conduct either a risk assessment or focused review of investment advisers registered with the agency for three or more years, concentrating on compliance programs, filings and disclosures, marketing, portfolio management, and safekeeping of client assets, according to the SEC announcement.
