Securities and Exchange Commission’s FY 2010 Performance and Accountability Report

Securities and Exchange Commission’s FY 2010 Performance and Accountability Report

In June 2010, the SEC approved a new strategic plan for its fiscal years 2010 - FY 2015. The plan set out the agency's mission, vision, values, and strategic goals. It also had a detailed list the outcomes the SEC wanted to achieve and the performance measures that will be used to gauge the agency's progress.

The SEC has released its 2010 Performance and Accountability Report, the first to measure the SEC performance against its strategic plan.

I thought it would be useful to look at some portions of the report to see if it could offer some insight into what to expect from the SEC as real estate private equity moves into the SEC registration regime.

The first that caught my eye was Goal 1, Measure 3: Percentage of firms receiving deficiency letters that take corrective action in response to all exam findings.
The Office of Compliance Inspections and Examinations missed its target of 95%, achieving only 90%. This was a drop from 94% in FY2009. I'm not sure what factors I would attribute to the decrease. Were the examinees less afraid of SEC action?

Read the article in its entirety at Compliance Building, a blog hosted by Doug Cornelius.