Publications

SEC Examination Staff Issues Expanded Request Letter Targeting Inside Information and Other Areas

Fall 2007
Marc E. Elovitz
Investment Management Developments - Fall 2007

The examination staff in the New York Regional Office of the Securities and Exchange Commission (the “SEC”) has recently been using a new and expanded form of request letter in connection with its periodic examinations of registered investment advisers (the “Request Letter”). The SEC’s New York Regional Office generally provides a copy of the Request Letter to the adviser two weeks prior to the start of the examination, and asks that the adviser have available the requested documents or information to the examination staff at the outset of the examination. The Request Letter used by the New York Regional Office has varied over the past several years. The most recent version requests several new categories of information that are noteworthy.