SEC to Increase Onsite Advisor Exams

The Securities and Exchange Commission plans to “significantly” increase onsite exams of advisors within the next six months, Natasha Greiner, deputy director of the SEC’s Division of Examinations, said Thursday.

In 2022, the SEC examined approximately 15% of RIAs.

This exam rate was “achieved despite continued growth” in the RIA industry, Greiner said during a meeting of the SEC’s Investor Advisory Committee. There are now 15,500 SEC-registered RIAs, she said.

“Going forward, as the industry continues to grow and change, maintaining our coverage ratio can only be achieved with sustained investments in human capital and technology resources,” Greiner said. SOURCE