SEC sweep examination of structured products
Download SEC sweep examination of structured products
In October and November 2009, the SEC sent notice letters to certain investment advisers announcing an examination of their trading procedures and valuation practices in the collateral pools of structured credit products, specifically collateralized debt obligations, collateralized bond obligations, and collateralized loan obligations (collectively, "CDO" instruments). The letters were sent from the New York Regional Office, which appears to be coordinating the exams. The SEC staff is requesting general information (organizational information, any pending or threatened litigation, Form ADV Part II), as well as information and processes specifically related to CDO transactions from January 1, 2006 to the present.
Exam staffers have also been following up with requests for