One in 12 alternative firms to face SEC action

In 2013 SEC increased formal orders of investigations by 20%

Bill Mulligan, Cordium

Alternative investment funds are coming under unprecedented scrutiny from an increasingly proactive Securities and Exchange Commission (SEC). The numbers speak for themselves. In 2013, the SEC opened up 908 investigations – a 12% increase on the year before – and obtained 574 formal orders of investigations, up 20% over the same period.

Based upon the historic number of enforcement investigations versus the size of the registered investment adviser registrant base, it is estimated that in today

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