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MAKING SENSE OF DODD-FRANK

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Dodd-Frank

SEC Files Record Number of Enforcement Actions Against Investment Advisers

by   |   November 16, 2012

The SEC filed 147 enforcement actions in 2012 against investment advisers and investment companies, one more than the previous year’s record number.  The actions resulted from several risk-based, proactive measures that identify threats at an early stage so that early action to halt the misconduct can be initiated and investor harm minimized.

In 2012, several actions resulted from the Enforcement Division’s investment adviser compliance initiative, which looks for registered investment advisers who lack effective compliance programs designed to prevent securities laws violations.

The SEC also filed actions charging three advisory firms and six individuals as part of the Aberrational Performance Inquiry into abnormal performance returns by hedge funds.

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