ARLINGTON, VA. -- As SEC examiners make their rounds at advisor practices this year, they will be taking a hard look at dually registered firms and the use of non-traditional mutual funds, according to the head of the commission's compliance unit.
The focus on practitioners who are registered as both investment advisors and broker-dealers grows out of concern that the different compensation structures of the two business lines can create conflicts of interest and potentially harm investors, Andrew Bowden, director of the SEC's Office of Compliance Inspections and Examinations, said in a keynote address here at the Investment Adviser Association's compliance summit on Thursday.
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