The Securities Litigation Expert Blog

SEC Sweep Exams

Posted by Jack Duval

Dec 21, 2012 2:55:54 AM

Hat tip to Reyhani Nemirovsky for excellent blog coverage of the SIFMA Compliance and Legal Society meeting on December 18, 2012.  (RN)  Key takeaways on where the Office of Compliance, Inspections and Examinations ("OCIE") is focusing resources:

OCIE’s exams initiatives are currently focused on the following areas:

  • governance of technology and controls;

  • the Facebook IPO;

  • seniors;

  • non-exchange traded REITs;

  • alternative trading systems;

  • high-yield securities and how they are marketed; and

  • due diligence.


Exam alerts that are forthcoming from OCIE relate to:

  • investment adviser due diligence;

  • options;

  • reasonable inquiry (know your customer);

  • structured products to retail clients; and

  • broker-dealer services to investment advisers.



Compliance officers should take note of these areas for training and budgetary purposes.
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Topics: FINRA, SIFMA, Investment Advisors, OCIE, investments, SEC, Compliance

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