As part of its examination sweep, the SEC is sending financial advisers a 13-page information request that includes 75 items. The document focuses on the recommendations advisers make to rollover funds from a 401(k) account(s) to an individual retirement account, the fees charged, conflicts of interest, and supervision and compliance controls.
The SEC announced the retirement sweep last June. Advisors are now receiving the questionnaires.
For those advisers that are registered investment advisers and therefore a fiduciary, his may just be a big nuisance. In any event, you may want to obtain a copy of the document request list and get prepared.