- The US SEC announced its 2023 examination priorities.
- “Emerging technologies and crypto-assets” is one of the priorities on the list.
- The SEC Chair Gary Gensler states that the Division of Examinations will continue to protect investors.
In its latest outing, the US SEC announced its 2023 examination priorities; the objective for which, the government body states, is to provide insights into its risk-based approach. This approach would cover areas that present potential risks to investors and the integrity of the U.S. capital markets.
The SEC Chair Gary Gensler, who the crypto community is undivided in despising, has stated his opinions about this new development. “In a time of growing markets, evolving technologies, and new forms of risk, our Division of Examinations continues to protect investors,” he said. “In executing against the 2023 priorities, the Division will help ensure compliance with the federal securities laws and rules.”
The Division of Examinations’ Director Richard R explains that the department’s priorities reflect the changing landscape and associated risks in the securities market. He also insists that these are the product of a risk-based approach to examination selection that balances its resources across a diverse registrant base.
We will emphasize compliance with new SEC rules applicable to investment advisers and investment companies as well as continue our focus on emerging issues and rules aimed at protecting retail investors.
The press release shared on the SEC site elucidates its vision and includes a selection of the Division’s 2023 priorities. Its first priority, as stated, will be to focus on the new Marketing Rule (Advisers Act Rule 206(4)-1) and whether registered investment advisers (RIAs) have adopted and implemented written policies and procedures that are designed to prevent violations.
Unsurprisingly, crypto ranks high on the division’s list. “Examinations of registrants will focus on the offer, sale, recommendation of, or advice regarding trading in crypto or crypto-related assets,” reads part of the statement. One of the other listed priorities is environmental concerns. According to the statement, the division will continue its focus on ESG-related advisory services and fund offerings, including whether funds are operating in the manner set forth in their disclosures.
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