230131 Chamber Comments Record Keeping Practices SEC


February 01, 2023


The U.S. Chamber of Commerce’s (Chamber) Center for Capital Markets Competitiveness (CCMC) is concerned regarding inquiries made by the Securities and Exchange Commission (SEC or Commission) involving recordkeeping practices of investment advisers, and that this investigative “sweep” is based upon a fundamentally misguided and novel view of recordkeeping requirements under the Investment Advisers Act of 1940 (Advisers Act) that could undermine the integrity of the SEC’s investigative and enforcement processes.

The Chamber has been a leading voice in providing observations and reform recommendations related to the enforcement practices of the SEC. Vibrant markets and the protection of investors depend upon vigorous enforcement of the securities laws and the deterrence of illicit behavior. At the same time, regulated entities and investors alike benefit from clear “rules of the road” and an SEC enforcement program that is fair and grounded in existing law.

230131 Chamber Comments Record Keeping Practices SEC