More On Legal & Compliancefrom The Advisor's Professional Library
- Risk-Based Oversight of Investment Advisors Even if the SEC had a larger budget and more resources, it is doubtful that the Commission would have the resources to regularly examine all RIAs. Therefore, the SEC is likely to continue relying on risk-based oversight to fulfill its mission of protecting investors.
- Disaster Recovery Plans and Succession Planning RIAs owe a fiduciary duty to clients to prepare for disasters and other contingencies. If an RIA does not have a disaster recovery plan, clients financial well-being may be jeopardized. RIAs should also engage in succession planning, ensuring a smooth transaction if an owner or principal leaves.
The Securities and Exchange Commission announced Thursday that Kevin Goodman had been named national associate director of the broker-dealer examination program in the Office of Compliance Inspections and Examinations.
Goodman, who’s been the acting national associate director of the program since May while also serving as acting regional director and associate director for the Denver regional office, will oversee a staff of approximately 300 lawyers, accountants and examiners responsible for inspections of U.S.-registered broker-dealers.
“Kevin has excellent judgment and experience,” said OCIE Director Andrew Bowden, in a statement. “As national associate director, he will work with our dedicated broker-dealer examination staff to further full compliance with the laws and fair treatment of investors by broker-dealers.”
Goodman began his SEC career in 1992 as an attorney-advisor in the Los Angeles Regional Office and was promoted to branch chief, senior special counsel, and assistant director. Before coming to the SEC, he practiced corporate and securities law in the private sector. He graduated from Purdue University in 1982 with a degree in accounting and received his law degree from Indiana University in 1985.