SEC Commissioner Walter on Investment Advisers

SEC Commissioner Elisse B. Walter delivered a speech on the changes in authority over investment advisers as a result of Dodd-Frank, particularly on the numerous mid-sized advisers that will now be regulated by the States rather than the SEC, and the large and very complex advisers to private funds who are now subject to SEC regulation for the first time. She discussed the challenges that this presents for both the States and the SEC. Implicit in her remarks is the question as to how many resources either the states or the federal government can devote to the inspection of investment advisers.

See: Examining Investment Advisers: The Challenge Continues (April 16, 2013).For a compilation of recent related news items, including speeches by Norm Champ, the Director of the Division of Investment Management on regulatory priorities, see Current Topics - Investment Adviser Regulation.