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Former SEC Commissioner on Third Party Exams

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December 10, 2015

Dear Friends,

Former SEC commissioner Troy Paredes recently urged investment advisers to express their opinions regarding a forthcoming SEC rule that would require third parties to conduct examinations, on behalf of the SEC.

As SEC Chair White stated in April 2015, the SEC is “advancing rule makings….to require a program of third party examinations of investment advisers to increase [the SEC’s] exam coverage.”

Rather than requiring  investment advisers engage third parties Norm Champ, former Director of the SEC’s Investment Management Division, suggested 200 examiners, who currently monitor broker dealers, be shifted to adviser exams.

Please click here for additional information on Mr. Paredes’ and Mr. Champ’s remarks. Feel free to contact us with any questions at (212) 867-0200 or email us at info@counselworksllc.com.

Thank you,



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