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To print this article, all you need is to be registered or login on Mondaq.com. On March 3, 2021, the Securities and Exchange Commission s Division of Examinations (EXAMS) (formerly the Office of Compliance Inspections and Examinations (OCIE) released its 2021 examination priorities. Notably, while the majority of the examination priorities echo OCIE priorities from prior years, this year s EXAMS priorities include a greater focus on climate-related risk and environmental, social, and governance (ESG) matters. This is consistent with the Commission s increased emphasis on ESG matters in other contexts, as well as that of other regulators. This year s priorities also include examinations relating to Regulation Best ....
Friday, April 9, 2021 SEC Announces 2021 Examination Priorities The SEC’s Division of Examinations (Division), formerly known as the Office of Compliance Inspections and Examinations (OCIE), released its 2021 examination priorities. In its release, the Division noted that it completed over 2,952 examinations in 2020 and issued more than 2,000 deficiency letters. Approximately 15% of all registered investment advisers were examined during 2020 and the Division completed more than 100 examinations of investment companies. The Division also conducted hundreds of outreach calls to investment companies and advisers to assess market impacts of the COVID-19 pandemic. The 2021 priorities are grouped into the following categories, each of which is described below in more detail: ....
To embed, copy and paste the code into your website or blog: It is clear that environmental, social, and governance (“ESG”) issues will be an “enhanced focus” for the SEC in 2021. See, the regulator’s recent announcement of an ESG task force and the Division of Examinations priorities letter for 2021. However, whether that enhanced focus results in a material change to the regulator’s practices is, according at least to two of its commissioners, “not yet clear.” As commissioners Hester Peirce and Elad Roisman discussed in a recent public statement, the Commission has already been focusing on climate-related issues for “decades,” and put into context, these recent ESG initiatives look more like a “continuation of the work staff has been doing” than “a program to assess public filers’ disclosure against any new standards.” As we wait for additional guidance related to these initiatives, firms and regulatory professionals can draw important ....