New SEC director of inspections sees more probes focused on risk

04/26/2010 | Financial Advisor online

Advisers should expect random spot checks as the Securities and Exchange Commission tightens its regulations and oversight, said Carlo di Florio, the agency's new director of compliance inspections and examinations. The increased scrutiny stems in part from Bernard Madoff's Ponzi scheme. Florio also noted that cyclical exams could be phased out in favor of risk-based exams that will probe deeper into issues and concerns.

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