Client Alert

Investment Funds & Private Capital Market Insights: Selection and Scope of SEC-Registered Investment Adviser Examinations

September 11, 2023

John L. BudettiEsther ChiangScott GluckRyan Swan, and David Wilson

On September 6, 2023 the SEC released a risk alert (available here) detailing how the Division of Examinations (the “Division”) utilizes a risk-based approach for both selecting which SEC-registered investment advisers (“RIAs”) to examine and determining the scope of risk areas to examine. The risk alert is consistent with the Division’s past guidance for RIAs, and these issues should look familiar to many clients and sponsors who have undergone an examination. Still, emerging managers and advisers that have not yet been examined in particular may find the information helpful.

Click here for a PDF of the full text

Practice Areas

Investment Funds & Private Capital

For More Information

Image: John L. Budetti
John L. Budetti

Partner, Corporate Department

Image: Esther Chiang
Esther Chiang

Partner, Corporate Department

Image: Scott Gluck
Scott Gluck

Of Counsel, Corporate Department

Image: Ryan Swan
Ryan Swan

Partner, Corporate Department

Get In Touch With Us

Contact Us