The Securities and Exchange Commission has gained "valuable insights" from sweep examinations of the mutual fund industry, but the process suffers from a lack of coordination and needs to be changed, according to SEC Commissioner Paul Atkins. In a speech to the IA Compliance Best Practices Summit 2006 in Washington, Atkins said the sweeps, many of which are conducted by the SEC's Office of Compliance Inspections and Examinations, are "a useful tool for shaping regulatory policy." At the same time, he noted, subject firms may be hit from more than one direction – namely, SEC headquarters as well as regional agency offices. To make matters worse, some of these subject firms are also undergoing other self-regulatory organization examinations. "The concerns expressed...have not gone unheeded," Atkins told the crowd. "OCIE is working on improving coordination and has committed to me that the Commission will have the opportunity to weigh in on sweep examinations before they occur." He said the OCIE has set up a hotline for any exam issues, (202) 551-EXAM.