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In yet another move to protect investors, the Securities and Exchange Commission has proposed a list of protections that aim to scrutinize how and if investment advisers are handling their client’s assets properly.

One proposed amendment would require all registered advisers to undergo an annual “surprise exam” by an independent public accountant to verify those assets exist. An adviser would be required to disclose in public filings with the SEC, among other things, the identity of the independent public accountant that performs its surprise exam, and amend its filings to report if it changes accountants.

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