Surveillance: Are You Ready for the SEC’s Enhanced Data Request Lists?

May 01, 2019 - 4:00 pm
ACA Technology ACA Compliance (Europe)
Nikolay Kojuharov, Michael Lehman, Sara Beier

Please join us for a live webcast discussion on Wednesday, May 1 at 4pm BST on the SEC’s recent increase in the types of data it requests from firms as part of investment adviser exams, what you need to know, and what you should do now to prepare.

Since the U.S. Securities and Exchange Commission’s (“SEC”) 2014 implementation of its National Exam Analytics Tool (“NEAT”), the SEC has increased the type and amount of data it requires from registered investment advisers as part of its exam program. In 2018, many registrants received the new SEC template format for collecting portfolio trades, initial positions, employee personal trades, and restricted lists as part of an exam. The new format requires firms to be able to access multiple systems, normalize the data, quality check the results, and deliver the information in about two weeks from the date of the request.

Also in 2018, ACA observed a substantial uptick in the SEC’s focus around MNPI monitoring and how firms forensically test for that. This new interest comes in the form of enhanced document request lists and details around how and what data firms’ compliance and surveillance teams track. One example would be an assumption that meetings with issuers are as critical as meetings with expert networks, meaning the onus is on the compliance team to monitor and test these.

During this webcast, we will discuss:

  • What data the SEC expects firms to track and be able to produce quickly as part of an exam
  • Where firms can find this data
  • How firms can prepare this data so it can be produced quickly and according to the SEC’s provided template

Who Should Attend: A member of your compliance team and a member of your operations or data team