The SEC is going to place more scrutiny on retirement advisers through its Office of Compliance Inspections and Examinations (OCIE). “As was true in 2015, OCIE has placed “examining matters of importance to retail investors, including investors saving for retirement” at the top of its list of exam priorities for this year.” The OCIE is conducting examinations of SEC-registered investment advisers and broker-dealers through a multi-year targeted examination program called the Retirement-Targeted Industry Reviews and Examinations Initiative (ReTIRE). This will be in addition to the Department of Labor’s recent efforts to increase scrutiny on retirement advisers. It is important for advisers to put in place a deeply ingrained fiduciary best-practice structure that covers ERISA and securities regulations. Taking the necessary steps to adopt better practices will put advisory firms in a good position to prepare for OCIE and DOL regulations.
See Blaine F. Aikin, Not just the DOL: Retirement plan advisers must prepare for increased SEC scrutiny, Investment News, February 18, 2016.
