Examination rates have been marching steadily upward, with examiners on pace to reach 20% more firms this year than last, but at the same time, the percentage of firms referred to the SEC’s Enforcement Division has been dropping, now down to around 7% from around 10% in prior years, according to Peter Driscoll, director of the SEC’s Office of Compliance Inspections and Examinations.
via SEC enforcement down despite increase in exams | Financial Planning.
