While the Risk Alert does not address all the weaknesses the OCIE
staff identified, it sets forth the most frequent deficiencies found by the staff in connection with the Safeguards Rule:
The group plans to conduct exams targeting "circumstances in which retail investors may have been harmed and reviewing whether financial service professionals have met their legal obligations," according to OCIE
Director Pete Driscoll.
noted that the 2018 list is "not exhaustive," and that "additional priorities may be added in light of market conditions or as OCIE
identifies emerging risks and trends."
's 2017 examination areas are informed in part by OCIE
's priorities from 2016 and will focus centrally on:
and NERO conducted two separate, independent examinations of Madoff.
Although the OCIE
indicated that the list is not exhaustive, the affected professionals are recommended to review and update their compliance practices based on the specified areas mentioned in preparation for a SEC examination.
Phase One kicked off in In April 2014, when OCIE
published their initial announcement on the program as part of their vision for improving cyber security for the securities and financial markets.
staff will use data analytics, information from prior examinations and examiner-driven due diligence to identify registrants to be reviewed.
One such project used LSS to optimize the theater-level organizational clothing and individual equipment (OCIE
) inventory, resulting in cost avoidance, improved processes, and a right-sized inventory.
After arriving at the adviser's office, the OCIE
staff members will present their official credentials and ask to meet with the compliance officer, the corporate officer who signed form ADV or some other appropriate employee or officer.
All new soldiers had to be equipped with organizational clothing and individual equipment (OCIE
), but the ll4th had deployed with a shortage of OCIE
responds to the personal needs of each user providing fast, easy information access while at the same time satisfying mandates for compliance, security, audit control, business and process modernization, and operational cost savings.