In this task, you are given a summary for US Congressional and California state bill, your task is to generate a Title for this bill. The preferred titles are under forty words and mention the purpose of the bill.

Investment Adviser Examination Improvement Act of 2012 - Declares the sense of Congress that the Securities and Exchange Commission (SEC) should increase the number and frequency of examinations of investment advisers.

Amends the Investment Advisers Act of 1940 to direct the SEC to collect an annual fee from investment advisers subject to SEC inspection or examination to defray the cost of such inspections and examinations. Exempts certain state-regulated investment advisers from the requirement to pay an annual fee.

Prescribes a fee calculation formula. Requires the SEC to make the formula publicly available on its website along with the factors used to reach the fee determination.

Requires the Comptroller General to audit biennially the use of such fees, SEC reviews of the fee formula, and any adjustments to it.

Makes such fees available to the SEC, without further appropriation or fiscal year limitation, to pay costs associated with inspecting and examining investment advisers.
To amend the Investment Advisers Act of 1940 to require certain investment advisers to pay fees to help cover the costs of inspecting and examining investment advisers under such Act.