Category: Examinations


OCIE Issues Risk Alert on Issues Related to Best Execution by Investment Advisers

Posted on July 23rd, by in Best Execution, Examinations, Investment Advisers, OCIE, Risk Alert, SEC, SEC Guidance. Comments Off on OCIE Issues Risk Alert on Issues Related to Best Execution by Investment Advisers

Pursuant to their fiduciary duties, investment advisers have certain obligations to seek out “best execution” for client transactions. The SEC’s Office of Compliance Inspections and Examinations (OCIE) recently issued a Risk Alert identifying deficiencies found during examinations of investment advisers’ compliance with their best execution obligations.

In this alert, partner Jim Lundy and associate Kellilyn Greco outline OCIE’s findings, including background on best execution, notable deficiencies, and recommended best practices.

Read the full alert.


The SEC Announces Its 2017 Examination Priorities

Posted on January 23rd, by in Examinations, OCIE, Office of Compliance Inspections and Examinations, SEC Guidance. Comments Off on The SEC Announces Its 2017 Examination Priorities

On January 12, 2017, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) announced its examination priorities for 2017. This year’s priorities are focused around three topics: (1) retail investors, (2) senior investors and retirement investments, and (3) market-wide risks. These priorities affect investment advisers, investment companies, broker-dealers, transfer agents, clearing agencies, private fund advisers, national securities exchanges, and municipal advisers.

Protecting retail investors remains a primary concern of OCIE. So it’s no surprise that its detailed areas of focus continue to include: risks related to electronic investment advice (i.e. “robo-advising”), “wrap fee” programs where investors are charged a single fee for bundled advisory and brokerage services, and “Never-Before Examined Investment Advisers,” an initiative started in 2014. OCIE will also continue to focus on its Exchange-Traded Funds (ETFs).

To protect senior investors, OCIE will continue its ReTIRE initiative with focuses on investment … Read More »




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