SEC Adviser Oversight Rules Fall Short: Report

Law360, New York (January 20, 2011, 5:10 PM EST) -- The U.S. Securities and Exchange Commission is unlikely to have the resources or staff to fulfill its new legislative mandate to toughen oversight of registered investment managers in the long term, according to an agency staff report.

Despite sweeping new authority to regulate the investment advisory activities of registered investment advisers and broker-dealers granted under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the study sent to Congress on Wednesday by the SEC's Division of Investment Management predicts that the frequency of SEC examinations will...
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