Notice before inspection: prior notice is required but may be waived to protect investor interests; duties continue during inspection. Regulation 24 requires the Board to give prior notice to an investment adviser before ordering an inspection, but allows the Board by written order to waive that notice where immediate action is necessary in the interest of investors; it also requires the investment adviser subject to inspection to discharge its obligations during the inspection process.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Notice before inspection: prior notice is required but may be waived to protect investor interests; duties continue during inspection.
Regulation 24 requires the Board to give prior notice to an investment adviser before ordering an inspection, but allows the Board by written order to waive that notice where immediate action is necessary in the interest of investors; it also requires the investment adviser subject to inspection to discharge its obligations during the inspection process.
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