Report 2005-123 Recommendation 6 Responses

Report 2005-123: Department of Corporations: It Needs Stronger Oversight of Its Operations and More Efficient Processing of License Applications and Complaints (Release Date: January 2007)

Recommendation #6 To: Corporations, Department of

To ensure that all applications are reviewed promptly and sufficiently, Corporations should continue to monitor the progress of applications through the review and approval process to identify any that have stalled, and investigate the reason for the delay.

1-Year Agency Response

Corporations stated that it reviewed its procedures for processing applications submitted to its securities division in order to streamline the process to focus on the most critical factors in an application. According to Corporations, this process, along with hiring a retired annuitant, has eliminated the securities division's backlog of applications pending review. (See 2009-406, p. 33)

California State Auditor's Assessment of 1-Year Status: Fully Implemented

All Recommendations in 2005-123

Agency responses received after June 2013 are posted verbatim.