Given all the recent news concerning the SEC’s current examination initiatives, it makes sense to be prepared. As John Wooden so famously put it, “Failing to Prepare is Preparing to Fail,” and as my colleague always says, “If you are registered with the SEC, you will be examined.”
Throughout this year, and as part of our FOCUS matters publication, we will continue to build upon our compliance readiness suggestions. As always, please contact us with any specific questions.
Here’s where we suggest you begin:
1) Read a few speeches from Mary Jo White, the current SEC chairman, to get a sense of the current regulatory landscape:
- Remarks at the Securities Enforcement Forum – View Transcription
- Chairman’s Address at SEC Speaks 2014 – View Transcription
2) Be aware of what the SEC’s current initiatives are:
- Focused, risk-based examinations of investment advisers to private funds – View Letter
- Never before examined advisers – View Press Release
3) Understand what the SEC’s examination priorities are for 2014:
- SEC Announces 2014 Examination Priorities – View Press Release
4) Review a few recent SEC request lists, both from a routine examination and a presence examination standpoint. This will give you a sense of what to expect.
- Los Angeles CA – January 13, 2014 – View Request List
- Atlanta GA – February 26, 2014 – View Request List
- Atlanta GA – March 5, 2014 – View Request List
5) We’ve recorded a video series in conjunction with Advent Software to assist firms in preparing for an SEC examination.
- SEC Exam: What Every Firm Should Know – View Recording