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RIA Alert: SEC’s 2020 Examination Priorities Include Additional RIA Examinations

By George C. Miller of Shustak Reynolds & Partners, P.C. posted on Monday, January 13, 2020.

Each year, the Securities and Exchange Commission (SEC) publishes a list of its examination priorities for the coming year.   Similar to the 2019 list, the SEC’s list for 2020 includes enhanced focus areas related to investment advisers, investment companies, broker-dealers and municipal advisors.  Specifically, the SEC pledges to focus its resources on examining RIAs that have never been examined, including newly formed RIAs as well as those already in operation.  The RIA examinations will include those RIAs advising retail investors as well as private funds.  Broker-dealer examinations will focus on issues pertaining to the implementation of new regulations, including regulation “Best Interest,” or Reg BI. 

Familiar focus areas also included on the 2020 list are continued review for compliance with applicable anti-money laundering (AML) rules and regulations, as well as a focus on information security and financial technology including the use of “robo-advisors.”  The SEC also pledges to focus on overseeing the Financial Industry Regulatory Authority (FINRA) and its operations, regulatory efforts and examinations. 

Shustak Reynolds & Partners, P.C. California SEC and FINRA lawyers routinely counsel broker-dealers, registered representatives, RIA firms, investment adviser representatives and other financial professionals in SEC and FINRA 8210 investigations and enforcement proceedings, as well as investigations and proceedings before the state securities regulators, including the California Department of Business Oversight. Contact us today for a confidential, complimentary consultation. 

Partner George C. Miller can be reached in the firm’s San Diego office at (619) 696-9500.

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