Unit will develop ‘new tools and techniques’ to strengthen risk analysis and surveillance
The Securities and Exchange Commission has created a new office to help strengthen the regulator’s scrutiny of financial advisers.
Peter Driscoll will lead the Office of Risk and Strategy and manage a staff in Washington that examines investment advisers and mutual funds, according to an SEC statement Tuesday. Mr. Driscoll said he plans to advance the development of “new tools and techniques” that strengthen the risk analysis and surveillance conducted by the agency’s Office of Compliance Inspections and Examinations.
The OCIE conducts examinations of SEC-registered investment advisers to help ensure compliance with U.S. securities laws and prevent fraud. The agency, which annually examines about 10% of the more than 11,500 registered investment advisers it oversees, has been looking at ways to boost its oversight of RIAs.
Our firm has been using Blue Vault from the first year it was available.
We have found it to be a valuable tool to verify what wholesalers tell us and to dig deep into how the reported investments are really performing.
We appreciate that Blue Vault has expanded its services from initially covering REIT's to now also including BDC's.
Our clients also appreciate that we conduct this additional due diligence on their behalf.