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SEC To Begin Randomly Inspecting Investment Advisors

Law360 (October 31, 2005, 12:00 AM EST) -- In an effort to improve the efficacy of its investment advisor monitoring system, the Securities and Exchange Commission will begin randomly inspecting investment advisors, rather than inspecting each firm once every five years.

The new inspection policy is part of an ongoing effort by the SEC to more actively monitor investment firms.

“We are trying to be forward looking, and think ‘how can we look ahead and deal with issues before they blow up on people,” John Walsh, chief counsel for the SEC’s Office of Compliance...
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