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The Text of the Dodd-Frank Act
International Association of
Risk and Compliance Professionals (IARCP)
Dodd Frank Act Section 914
SEC. 914. STUDY ON ENHANCING INVESTMENT
ADVISER EXAMINATIONS.
(a)
STUDY REQUIRED.—
(1) IN GENERAL.—The Commission
shall review and analyze the need for enhanced examination and
enforcement resources for investment advisers.
(2)
AREAS OF CONSIDERATION.—The study
required by this subsection shall examine—
(A) the number
and frequency of examinations of investment advisers by the
Commission over the 5 years preceding the date of the enactment of
this subtitle;
(B) the extent to which having Congress
authorize the Commission to designate one or more self-regulatory
organizations to augment the Commission’s efforts in overseeing
investment advisers would improve the frequency of examinations of
investment advisers; and
(C) current and potential
approaches to examining the investment advisory activities of
dually registered brokerdealers and investment advisers or
affiliated broker-dealers and investment advisers.
(b)
REPORT REQUIRED.—The Commission shall
report its findings to the Committee on Financial Services of the
House of Representatives and the Committee on Banking, Housing,
and Urban Affairs of the Senate, not later than 180 days after the
date of enactment of this subtitle, and shall use such findings to
revise its rules and regulations, as necessary.
The report
shall include a discussion of regulatory or legislative steps that
are recommended or that may be necessary to address concerns
identified in the study.
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