On notice: SEC examiners expect good faith efforts from advisors on conflicts despite pandemic
April 1, 2020 by Kenneth Corbin
WASHINGTON — Even with the SEC halting in-person exams due to the coronavirus pandemic, examiners are still monitoring firms remotely, and advisors can help their cause by demonstrating that they have thought seriously about how they are handling conflicts of interest, according to current and former regulators.
SEC examiners and enforcement staff are likely to take a kinder view of firms that can show that they have taken meaningful steps to identify conflicts and make detailed disclosures to clients in cases where the conflict can’t be eliminated.
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