Examinations that have been specifically adapted for newly registered private fund advisers will help the Securities and Exchange Commission engage with firms, examine them and give the advisory industry guidance, an SEC official said. The official, Andrew Bowden, is associate director of the SEC's Office of Compliance Inspections and Examinations. Bowden, who leads the national investment adviser/investment company exam program, spoke last week at a Practising Law Institute conference in New York City on hedge and other private funds. OCIE's goal this year is to examine about one-fourth of the new registrants under the Dodd-Frank Act, which expanded SEC oversight over private fund advisers, Bowden said. Some 65 percent of the 1,400 or so new registrants advise hedge funds and the rest mostly advise private equity funds, he added. OCIE has been providing guidance for new registrants through staff letters and alerts on its website, and speeches by director Carlo di Florio and former
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