Regulators give OK as long as both positive and negative comments are included.
Areas under focus in 2014 represent heightened risk, regulator said.
Report highlights conflicts of interest scenarios and strengths and weaknesses identified in examinations into how broker-dealers keep material, non-public information from being misused.
Former SEC enforcement chief says unit has been "unprecedented in its success."
The number of registered investment advisers has increased so dramatically since 2004, the SEC said it is overwhelmed, understaffed and out of resources to keep up with exams to monitor their activities.
The SEC is asking Congress to give it more power to strengthen its investment adviser examination program including through assessing fees to fund exams, according to a new study from the commission.