WASHINGTON -- State securities regulators have been ramping up examinations of investment advisors in the aftermath of the Dodd-Frank Act, which required more than 2,000 midsized advisors, who had been overseen by the feds, to register with state authorities.
In the latest biennial poll by the North American Securities Administrators Association, state regulators said they discovered 6,482 deficiencies in exams conducted in 2013 or late 2012, up 83% from the 3,543 deficiencies reported in 2011. State authorities reported 1,130 exams conducted in the most recent period, up from 825 exams in 2011.
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