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News January 21, 2008 Issue

Got Questions? OCIE Director Has Answers!

OCIE director Lori Richards last week delivered a must-read speech providing helpful answers to a number of oft-asked questions about SEC exams, such as:

  • What issues are SEC examiners focused on now? (Answer: valuation, insider trading, and sales to seniors.)
  • What are the possible outcomes of an SEC examination?
  • What can I do to ensure that the examination goes smoothly?

Of note: Richards announced that OCIE is working on a new pilot whereby examiners will visit dually-registered BDs and IAs, looking at the brokerage and advisory business "at the same time, with a view towards creating a common examination module."