SEC’s Division of Examinations Announces New Exam Handbook

The Securities and Exchange Commission’s Division of Examinations today published its new handbook, “The SEC Exam Handbook: A Practical Guide on Process and Engagement,” which replaces and expands upon the previous examination brochure by providing registrants with more insight and detail about what to expect during an examination.

The new handbook provides a clear roadmap of the process used by division examiners across the country to help ensure consistency and is designed to emphasize the Commission’s commitment to approach each examination with an accessible and collaborative mindset. In addition to supporting the SEC’s mission, division examinations are designed to improve industry practices and compliance, monitor risk, and prevent fraud.

“The Division of Examinations is a crucial part of how the SEC provides market oversight and protects investors. The Division’s new handbook clarifies the examination process, offering regulated entities greater insight into what to expect during an exam and establishing clear expectations,” said SEC Chairman Paul S. Atkins. “The transparency this handbook provides will make examinations more effective and further help the SEC fulfill its mission of protecting investors, facilitating capital formation, and maintaining fair, orderly, and efficient markets.”

“The division’s goal to be more accessible provides registrants and the Commission with a more efficient and effective examination program,” said Keith Cassidy, Director of the SEC’s Division of Examinations. “By answering the call from registrants to provide more clarity to the exam process, we aim to make the process more consistent and predictable for everyone involved.”