Monday, March 06, 2006

SEC Seeks Wider Role in ''Sweep'' Exams


In recent years, the regulator's ''inspections and exams'' division has targeted particular types of possible misconduct, a practice that has been criticized by some business groups.

Paul Atkins expects that he and his fellow SEC commissioners will be getting more involved in "sweep examinations" that are conducted by the Office of Compliance Inspections and Examinations (OCIE), according to Reuters.

Atkins, who made the remarks during a speech to investment advisers, noted that "OCIE is working on coordination and has committed to me that the commission will have a chance to weigh in on sweep exams."

See full Article.