The SEC’s National Exam Program has launched an initiative to conduct focused, risk-based examinations of investment advisers to private funds that recently registered with the Commission (“Presence Exams”). The Presence Exams initiative will take place over the next two years and it has three primary phases: engagement; examination; and reporting.
During the examination phase of the SEC’s Presence Exams initiative, NEP staff will review one or more of the following higher-risk areas of the business and operations of advisers selected for an examination:
- Marketing
- Portfolio Management
- Conflicts of Interest
- Safety of Client Assets
- Valuation
Compliance Advisers can conduct a Mock Presence Exam to ensure your new adviser firm is ready for the real thing. Contact us today for more information about our Mock Presence Exams.