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While an SEC risk alert issued last month on fund examination findings cites common deficiencies and compliance gaps, it also provides CCOs with key information on the exam process itself. FrontLine Compliance’s Founder and President Amy Lynch comments that the SEC alert lays out a game plan for exam preparation, which is especially helpful for new fund CCOs. She explains that newer CCOs may not have prior experiences with SEC exams since mutual fund complexes are examined less frequently than investment advisers. The alert discusses certain areas of emphasis for mutual funds, including monitoring third-party service providers. Ms. Lynch points out that the SEC’s exams focus on this area because it knows that funds are very dependent on their service providers, such as their administrator, distributor and custodian. See IGNITES (subscription required), “SEC to Funds: Clean Up Your Documents, Compliance” Also see our ComplianceAlert, “SEC Risk Alert Details Fund Exam Process and Findings”