United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2007-08-14 monographic deposited born digital 43 p. GA 1.13:GAO-07-1053 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-1053 P0b002ee18038667b f:d071053 DGPO 2010-08-12 2011-03-28 GAOREPORTS-GAO-07-1053 machine generated eng fdlp REPORT GAOREPORTS-GAO-07-1053 GAO-07-1053 Communication Federal regulations Internal controls Investigations by federal agencies Investment companies Noncompliance Policy evaluation Risk assessment Securities Securities fraud Securities regulation Policies and procedures Program goals or objectives Other Written Product A74488 After widespread unlawful trading practices surfaced in the mutual fund industry in late 2003, the Securities and Exchange Commission (SEC), through its Office of Compliance Inspections and Examinations (OCIE), took steps intended to revise its examination process to better identify and focus its resources on those activities representing the highest risk to investors. More recently, some registrants raised concerns about the lack of communication from SEC examiners about the status of and results of examinations. This report (1) describes OCIE's revisions after 2003 to the examination approach for investment companies and investment advisers; (2) discusses OCIE's compliance with its examination exit procedures; and (3) describes reforms OCIE implemented since January 2006 to enhance, among other things, communication with registrants. To address these objectives, GAO analyzed OCIE examination data; planning documents and guidance; interviewed OCIE officials; and gathered views of registrants. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-1053/html/GAOREPORTS-GAO-07-1053.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-1053/pdf/GAOREPORTS-GAO-07-1053.pdf GAO-07-1053 https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-1053 Other Written Product GAO-07-1053; Securities and Exchange Commission: Steps Being Taken to Make Examination Program More Risk-Based and Transparent; Communication Federal regulations Internal controls Investigations by federal agencies Investment companies Noncompliance Policy evaluation Risk assessment Securities Securities fraud Securities regulation Policies and procedures Program goals or objectives