SEC Launches Sweep Examination Of Alternative Mutual Funds

By Ed Beeson (August 13, 2014, 2:08 PM EDT) -- The U.S. Securities and Exchange Commission has launched a sweep examination of so-called alternative mutual funds, an agency spokeswoman confirmed Wednesday, months after top officials signaled the complex but popular retail products are due for a closer look.

The sweep, which is being run by the Office of Compliance Inspections and Examinations, will look at roughly 30 fund complexes that offer alternative funds and should be complete by April 1, the spokeswoman said in a written statement.

"OCIE will then evaluate exam findings to determine if we should visit other complexes," she added, declining further comment.

Though alternative funds are a...

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