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SEC starts sweep of exams on T+1 compliance at investment adviser firms

Image of the NYSE trading floor with Breast Cancer Awareness signage.
Photo: Kevin Mazur/Getty Images for The Estée Lauder Companies Inc.

Several registered investment advisers have received examination letters related to T+1 settlement compliance.

The SEC has begun a sweep of advisors’ compliance with the new T+1 securities transaction settlement cycle, namely, the shortening of such cycle from two business days after the trade date to one.

“Over the last week, several registered investment advisers have received examination letters” from the SEC’s headquarters