2020 SEC Examination Priorities Released

The Office of Compliance Inspections and Examinations of the Securities and Exchange Commission (OCIE) released their 2020 Examination Priorities Letter on January 7, 2020.   While every area is important, when you read this in context of prior releases, most of the priorities are the same; however, there are some evolving priorities as well. Regulation Best… READ MORE

SEC Posts 2018 Exam Priorities

The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) released its 2018 National Exam Program examination priorities yesterday. While most of the topics are familiar, there are a few new items of note. OCIE has divided its priorities into four categories: Retail investors including Seniors and those saving for retirement “Disclosures of the Costs of… READ MORE

Municipal Advisors Warned About Compliance Obligations

On November 7, 2017 the SEC Office of Compliance Inspections and Examinations (OCIE) issued a risk alert announcing it had conducted 110 exams of municipal advisors.  The examinations evaluated compliance with regulatory obligations including registration, statutory fiduciary standard of care, fair dealing, record keeping, and supervision. The staff observed that municipal advisors were “generally unfamiliar… READ MORE

SEC Risk Alert Shows Gaps in Firm Cybersecurity Programs

The SEC’s Office of Compliance Examinations and Inspections (OCIE) has released a Risk Alert with a brief summary of observations from its second round of cybersecurity exam sweeps, where it surveyed 75 broker dealers, investment advisors, and investment companies.  The Cybersecurity 2 Initiative was a more thorough follow-up to their 2014 Cybersecurity 1 Initiative.  The… READ MORE