Undisclosed fees and interests in investments they sell to clients are the most egregious conflicts of interest among investment advisors, an SEC enforcement official said today.

Speaking before the Washington D.C. bar association, Andrew Ceresney, enforcement director of the Securities and Exchange Commission, said his unit is focusing more on these problems.

Ceresney also defended the SEC’s increasing demands for admissions of guilt in its enforcement actions. The admissions increase accountability and let workers in the industry know they should reform their conduct, he said.