By Christopher Pallanch and Jessica Morgan
On February 7, 2018, the Security and Exchange Commission’s Office of Compliance Inspections and Examinations announced its 2018 examination priorities. For 2018, OCIE’s priorities fit into five broad categories:
- Compliance and risks in critical market infrastructure (e.g., examining clearing agencies and national securities exchanges);
- Retail investors, including seniors and those saving for retirement (focusing on disclosure and calculation of fees, as well as the supervision of representatives selling products and services to investors);
- FINRA and MSRB (keeping tabs on self-regulatory organizations);
- Cybersecurity (emphasizing, among other things, risk assessment, access rights and controls, data loss prevention, and incident response); and
- Anti-money laundering programs (reviewing for compliance with applicable rules and regulations).
Each year, OCIE publishes its priorities to inform industry of policy, improve compliance, prevent fraud, and monitor risk. OCIE’s published priorities are not exhaustive, and additional priorities may be added should new trends or risks emerge. We will continue to monitor developments throughout the year.
This client alert is prepared for the general information of our clients and friends. It should not be regarded as legal advice. If you have any questions regarding this update, or for more information about this topic, please contact any of the attorneys in our Financial Services & Investment Management Practice Group, or the attorney with whom you normally consult.
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