Melanie Waddell of Think Advisor reports on the SEC’s examination priorities for 2014, including advisors who have never been examined.
Excerpt: The Securities and Exchange Commission today announced its examination priorities for 2014, which include advisors who have never been examined, including new private fund advisors; wrap fee programs; quantitative trading models; and payments by advisors and funds to entities that distribute mutual funds.
As for broker-dealers, the securities regulator says it will zero in on sales practices and fraud, issues related to the fixed income market, and trading issues, including compliance with the new market access rule.
Like the Financial Industry Regulatory Authority, the SEC will also focus on advisor and broker-dealer IRA rollover activity this year. Yet another area of focus will be dually registered advisors.