SEC investigation will become quicker, according to its chair.
According to a recent Reuters report SEC head Gary Gensler wants to “cut back” on meetings during which company executives and attorneys can make a defense to SEC staff during investigations.
Foot-dragging is a common defense tactic, according to the report.
“The defense bar often makes a strategic decision to burn clock,” Gensler was quoted. “We’ve got precious resources, we need to move the docket, and we will be bringing cases expeditiously.”
That move comes with ongoing efforts for stricter deadlines for investigations. Gensler is also directing regulators to seek admissions of guilt from violations following an SEC investigation. Some are calling the broad effort an “everything crackdown.”
Gensler is also looking for more than just the “bare minimum” when it comes to businesses working with investigators. That can take many forms, which SmartRIA is in a unique position to assist.
One great way to be ready when investigators come knocking is a with a comprehensive suite of RIA software like what SmartRIA offers. Our software allows for easy reporting, which cuts time for investigators and your own compliance team. That is in addition to all the other features that SmartRIA offers such as easy tracking and logging of client reviews, and the compiling ongoing list of documentation that RIAs – and the regulators who watch them – must track.
