Beyond BrokerCheck: SEC adds online adviser search tool

SALI shows whether advisers have a judgment against them in an enforcement action

May 2, 2018 @ 2:19 pm

By InvestmentNews

The SEC has added an online search feature to its website that enables investors to check whether advisers have a judgment or order entered against them in an enforcement action.

The tool — SEC Action Lookup for Individuals, or SALI — differs from the BrokerCheck site of the Financial Industry Regulatory Authority Inc. in that it contains information about unregistered as well as registered individuals.

SALI allows the public to identify those advisers who have settled, defaulted, or contested an enforcement action brought by the Securities and Exchange Commission — as long as a final judgment or order was entered against that person in a federal court or an administrative proceeding.

"The new tool is intended to assist the public in making informed investment decisions and avoiding financial fraud," the SEC said in a release.

The SEC said SALI search results currently include parties from SEC actions filed between Oct. 1, 2014, and March 31, 2018. The agency will update the search feature periodically to add parties from newly filed actions and from actions filed before Oct. 1, 2014.


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