SEC shifts to unannounced exams of investment advisers

04/16/2010 | InvestmentNews (free registration)

The Securities and Exchange Commission has opted for surprise exams of advisers that are based on complaints and tips rather than a regular schedule. "We simply show up, because if there are allegations of wrongdoing we don't want to give firms a good deal of lead time to clean up," said Gene Gohlke, associate director of the SEC's Office of Compliance, Inspections and Examination.

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