In FY2016, the Securities and Exchange Commission filed a record of 868 enforcement cases against investment advisers and investment companies. In the Oct. 17 issue of ACA Insight, investment management counsel David Tittsworth (Washington, D.C.) outlines that “for investment advisers, there are three main factors that have contributed to the increase: the creation of the SEC’s Asset Management Unit in 2009, SEC chair Mary Jo White’s experience as a prosecutor and her ‘broken windows’ policy, and the SEC’s enhanced data analytics capabilities.” In InvestmentNews, Mr. Tittsworth highlights that “[these factors have] combined to produce some bigger numbers.” SEC Chair White called the agency's enforcement program “a resounding success.” Mr. Tittsworth suggested that “All investment advisers should sit up and take notice” of the SEC’s enforcement activities.
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