The Five Most Frequent Compliance Topics Identified in OCIE Examinations of Investment Advisers

February 20, 2017

Not long after announcing its exam priorities for 2017, The SEC’s Office of Compliance Inspections and Examinations provided a list of the five compliance topics most frequently identified in deficiency letters that were sent to SEC-registered investment advisers. 

The five areas are:
(1) Rule 206(4)-7 (the Compliance Rule);
(2) Required regulatory filings (like Form ADV accuracy and timeliness);
(3) Rule 206(4)-2 (the Custody Rule);
(4) Rule 204A-1 (the Code of Ethics Rule); and
(5) Rule 204-2 under the Advisers Act (the Books and Records Rule).

SEC Risk Alert:   https://www.sec.gov/ocie/Article/risk-alert-5-most-frequent-ia-compliance-topics.pdf