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ARTICLE · 13 NOVEMBER 2013

SEC Targets Investment Adviser Community

Duane Morris LLP
Duane Morris LLP
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The Enforcement Division of the Securities and Exchange Commission and its Office of Compliance Inspections and Examinations are focusing their examination and disciplinary efforts on the investment adviser community.

United StatesFinance and Banking
Robert Bramnik
Robert Bramnik
Mauro Wolfe
Mauro Wolfe
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The Enforcement Division of the Securities and Exchange Commission (SEC) and its Office of Compliance Inspections and Examinations (OCIE) are focusing their examination and disciplinary efforts on the investment adviser community.

On October 23, 2013, the SEC sanctioned three investment advisers for deficiencies in their compliance programs. Rule 206(4)-7 under the Investment Advisers Act of 1940 requires all registered investment advisers (collectively, "RIAs") to adopt, implement and review written policies and procedures that are reasonably designed to prevent violations of securities law, rules and regulations. OCIE inspects and examines RIAs to ensure compliance with this rule, along with the other conduct rules relating to RIAs.

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