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SEC creates new office to help oversee financial advisers

March 9, 2016

Unit will develop ‘new tools and techniques’ to strengthen risk analysis and surveillance

Mar 8, 2016 @ 4:44 pm | By Christine Idzelis | Investment News

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.

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Derek Hayes
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April 14, 2016

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