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  • Writer's pictureDeborah

On February 7, the Securities and Exchange Commission (SEC) announced its 2023 examination priorities for its Division of Examinations.

New areas of focus include compliance with:

  1. Advisers Act Rule 206(4)-1 (Marketing Rule)

  2. Investment Company Act Rule 18f-4 (Derivatives Rule)

  3. Investment Company Act Fair Valuation Rule 2a-5

Examination priorities will continue focus on:

  1. Registered Investment Advisors (RIAs) to private funds

  2. Standards of conduct - Regulation Best Interest, Fiduciary Duty and Form CRS

  3. Environmental, Social, and Governance (ESG) Investing

  4. Information security and operational resilience, in particular the practices to prevent interruptions to mission-critical services and to protect investor information, records and assets.

  5. Crypto assets and emerging financial technology, including mobile apps and automated digital investment advice

  6. Governance, operations and compliance practices of investment advisors and investment companies, mutual funds and ETFs

  7. Compliance and supervisory programs of broker-dealers and exchanges

  8. Core risks, processes and controls of clearing and settlement agencies

  9. Written policies and procedures of regulation systems compliance and integrity

  10. Risk-based oversight of Financial Industry Regulatory Authority (FINRA) and Municipal Securities Rulemaking Board (MSRB)

  11. Compliance with Anti-Money laundering (AML) obligations

  12. Transitions away from the London Interbank Offered Rate (LIBOR)

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