United States: Open (Hand)book for SEC Exams: A Useful Tool for the Uninitiated
By: Pablo J. Man, Neil T. Smith, and Hayley Trahan-Liptak
A call from the Staff at the Division of Examinations (Exams) of the Securities and Exchange Commission (SEC or the Commission) notifying a registrant of an exam has long induced uncertainty and concern, even though exams generally follow a standard playbook. Stating a goal of increased transparency and productivity, the SEC released The SEC Exam Handbook: A Practical Guide on Process and Engagement (the Handbook), which outlines a roadmap for examinations and the Commission’s expectations for registrants. For registrants who have been examined before, there will be no surprises.
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