Marc Wyatt, the exam chief at the Securities and Exchange Commission, said that his office’s 10 percent examination rate for financial advisors is worryingly small.

“It keeps me up at night,” said Wyatt, speaking at the IA Watch compliance conference in Washington, D.C.

Wyatt, director of the SEC’s Office of Compliance Inspections and Examinations, says he wants to have 100 extra registered investment advisor examiners in place by the end of September.

He said he would even welcome third-party examiners to supplement his team’s work (but not replace their core functions).

SEC Chair Mary Jo White said last week it is likely to take longer to hire some of the 100, transfer others from broker exam duty and train them. White has said the SEC is considering using third-party examiners to provide additional oversight.

Also speaking about cybersecurity, Wyatt said his examiners don’t expect chief compliance officers to be technology experts but they should know the risks and inventory and prioritize protection measures.

His office is giving more priority to high-frequency traders as they become a bigger part of the market, he said.

Wyatt defended the industry expertise of his staff.

“There’s a myth examiners are not knowledgeable about the industry. Nothing could be further from the truth,” he said.