The Securities and Exchange Commission’s new Retail Strategy Task Force will use data analytics to root out misconduct “occurring at the intersection of investment professionals and retail investors,” namely mutual fund share class and wrap-fee account abuse, Stephanie Avakian, co-director of the agency’s enforcement division, said Thursday.
Avakian, speaking at the Securities Enforcement Forum in Washington, said that the retail task force will zero in on “the many ways that retail investors intersect with the securities markets and look for widespread misconduct,” drawing on the agency’s “experience in the retail space and elsewhere to identify strategies that have worked well for us across all kinds of cases, particularly those in which we used data analytics and technology.”
via New SEC Task Force to Use Data to Root Out Advisor Fraud
