Podcast Center
Video Center
Webcasts
Resource Center
Events
By 
November 23, 2020 at 04:00 PM
U.S. Securities and Exchange Commission building in Washington. (Photo: Diego M. Radzinschi/ALM)
Despite the pandemic, the Securities and Exchange Commission’s exam division conducted over 2,950 examinations in fiscal year 2020, including 15% of all SEC-registered investment advisors, according to Pete Driscoll, director of the Office of Compliance Inspections and Examinations.
OCIE “successfully began initiatives to review compliance with Regulation Best Interest and Form CRS and to assess registered advisers’ and investment companies’ preparedness for the transition away from LIBOR,” Driscoll said in a recent speech.
OCIE has continued to conduct exams “off-site through correspondence, and we are working with registrants to address the timing of our requests, availability of registrant personnel, and other matters to minimize disruption,” he explained.
The agency’s examiners, Driscoll continued, “engaged in outreach and other efforts with many investment advisers and investment company complexes to assess the impacts of Covid-19 and to gather information, including challenges with operational resiliency and fund liquidity.”
