More SEC Adviser Exams Projected for 2017 and 2018
An article published in InvestmentNews on November 4, 2017, reported that the Chairman of the Securities and Exchange Commission (SEC), Jay Clayton, intends to increase the number of financial adviser examinations conducted by the SEC each year, thus enabling the securities law enforcement agency’s examination division to maintain a more proactive approach toward enforcement and regulation of the investment advisory industry. A Financial Adviser Defense Lawyer can assist with such examinations.
An Increased Level of Enforcement
Prominent SEC defense lawyer David R. Chase weighed in on this issue for InvestmentNews. “We’re going to see the SEC more proactive against brokerage firms and individual brokers,” Chase predicted. Early indications point to in-house examinations rather than the third-party exams proposed by Clayton’s predecessor at the SEC. By adding more adviser examiners to the SEC staff and using advanced technologies to pinpoint problem firms more accurately, it is expected that the SEC will be able to boost the number of examinations conducted each year from 10 percent to as much as 15 percent of the approximate 12,000 advisers overseen by the agency.
Added Demand for SEC Defense Lawyer Services
The increase in adviser exams projected for 2017 and beyond may prompt increased demand for the services of qualified SEC defense attorneys to represent those who come under SEC investigations or become targets of enforcement actions. By retaining qualified securities defense counsel early in the investigatory process, investment advisors and investment advisory firms can proactively protect their interests and business reputations.
The Law Firm of David R. Chase, headed by former SEC prosecutor David R. Chase, focuses its securities law practice on the defense of investment advisors and advisory firms in SEC investigations and enforcement actions. David Chase has been handling securities cases for 25 years and utilizes his vast experience and knowledge of the securities industry to strategically represent his clients’ interests. If you are under investigation by the SEC and seek a consultation on your legal rights, call today at 1-800-760-0912 to speak with Mr. Chase.