SEC Publishes List of "Core Initial Request for Information" OCIE uses in Conducting Routine Inspections of Advisers
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November 14, 2008
TO: COMPLIANCE MEMBERS No. 60-08INTERNAL AUDIT ADVISORY COMMITTEE No. 7-08
SEC RULES MEMBERS No. 135-08
SMALL FUNDS MEMBERS No. 70-08 RE: SEC PUBLISHES LIST OF "CORE INITIAL REQUEST FOR INFORMATION" OCIE USES IN CONDUCTING ROUTINE INSPECTIONS OF ADVISERS
The Office of Compliance Inspections and Examinations of the Securities and Exchange Commission has published on the Commission’s website a list of the types of core information that the OCIE staff may initially request in connection with a routine inspection of an adviser. The list is geared towards those advisers that provide “only traditional money management services to non-fund clients.” To the extent the adviser’s operations “has other features,” such as sponsoring a family of registered investment companies or privately offered funds, offering separately managed or wrap fee accounts, being a registered broker-dealer, or being a manager of managers, “the information initially requested will include both the core set of information [included in the list] and additional information that will allow the examination staff to evaluate compliance activities for these additional activities and relationships.”
The list is available on the SEC’s website through the following link: http://www.sec.gov/info/cco/requestlistcore1108.htm.
Tamara K. Salmon
Senior Associate Counsel