SEC Examines Only 8% of Advisers

posted in: SEC Examinations | 0

During Fiscal Year 2012, despite improved risk-based analysis to select examination candidates in its examination program, the SEC was able to conduct on-site examinations of only about eight percent of registered investment advisers. Over 40 percent of SEC-registered investment advisers have never been examined. In practice, this equates to an approximately 13-14 year examination cycle for SEC registrants.