Mock SEC Exams: Benefits and Considerations
The key to surviving an SEC examination is preparation. One of the most effective ways an investment adviser can ensure such preparation is through a mock examination or similar exercise. A mock exam, which is a simulated regulatory examination of an investment adviser conducted by a compliance professional, is ideally conducted before an investment adviser receives notice from the SEC of an examination to ensure the firm is prepared to respond to an SEC examination in an effective manner.
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