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SEC Press Releases·

SEC Announces Fiscal Year 2027 Examination Priorities

  • The SEC announced the Division of Examinations' Fiscal Year 2027 priorities to promote compliance, prevent fraud, monitor risk, & inform policy.
  • Priorities were developed through coordination across the SEC & reflect market developments, investor concerns, & emerging trends affecting U.S. capital markets.
  • The Division aims to improve accessibility for registrants regarding examination observations & strengthen integration with policymaking divisions & fellow regulators.
  • SEC Chairman Paul S. Atkins stated examinations are vital for protecting investors & strengthening market integrity through a rigorous program.
  • The FY 2027 plan covers examination activities for over 34,000 registrants including investment advisers, broker-dealers, & self-regulatory organizations.
  • Key focus areas include investment advisers' fiduciary duties, conflict of interest, & compliance programs.
  • Retail investor protection is a priority, especially regarding complex, higher-risk, & illiquid products.
  • Oversight will cover private funds, private credit, & other complex investment strategies.
  • Broker-dealer priorities include financial responsibility, trading practices, supervision, & anti-money laundering compliance.
  • Operational resiliency, cybersecurity, & customer information protection are emphasized.
  • Emerging technologies such as super intelligence & other advanced tools affecting markets will be monitored.
  • Risks associated with evolving market infrastructure, including Treasury clearing reforms & tokenization, are highlighted.
  • Oversight of self-regulatory organizations & other critical market participants remains a priority.
  • Director Keith Cassidy noted the program must evolve rapidly to identify developing risk patterns & respond to emerging threats.
  • The priority list is not exhaustive & serves to identify areas warranting heightened attention based on current risk assessments.
  • The Division expects firms to maintain strong, risk-based compliance programs tailored to their businesses.
  • Focus areas may be adjusted throughout the year in response to market events, investor concerns, & new developments.