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Last week, the Securities and Exchange Commission’s newly renamed Division of Examinations (formerly known as the Office of Compliance Inspections and Examinations) published its 2021 Examination Priorities (“Exam Priorities”). This annual guidance reports on the Division’s accomplishments and rates of examinations for the prior year, and seeks to promote compliance, prevent fraud, identify and monitor risk, and inform policy. It provides industry participants with a road map to plugging any gaps in their compliance.
Many of the Exam Priorities are perennials for example, those related to broker-dealer sales practices and treatment of seniors, and registered investment adviser compliance programs but these are supplemented by the Division’s focus on risks that have emerged in recent years, including information security, digital assets, and operational resiliency in light of climate-change related risks. This
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On March 3, the U.S. Securities and Exchange Commission’s (SEC) Division of Examinations (Division), formerly known as the Office of Compliance Inspections and Examinations, announced its examination priorities for fiscal year 2021. The Division publishes the report annually to identify areas where it believes potential risks to investors and U.S. capital markets may exist. This year’s report focused particularly on climate-related risks, conflicts of interests for brokers and investment advisers, and attendant risks related to fintech.
Below find a summary of the Division’s 2021 examination priorities.
SEC Division of Examinations Releases Risk Alert for Digital Asset Securities | Proskauer - Blockchain and the Law jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
Sunday, March 7, 2021
On February 26, 2020, the Security and Exchange Commission’s (“SEC”) Division of Examinations (the “Division”) published a Risk Alert, “The Division of Examinations’ Continued Focus on Digital Asset Securities.” In the Risk Alert, the Division offered insight into its current examination focus with respect to the activities of market participants, including investment advisers, concerning digital assets that are securities (“Digital Asset Securities”) and distributed ledger technologies.
The Alert outlines the observations of the Division, which were the product of examinations of investment advisers, broker-dealers, and transfer agents and their use of Digital Asset Securities. At only eight pages, the Alert is not an exhaustive compliance document for market participants and does not detail explicitly how firms might remain in compliance with securities laws and regulations. The Division’s outline of the risks it has obse
Division of Examinations Issues Risk Alert on Digital Asset Securities | Troutman Pepper jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.