2021 SEC Examination Priorities vs. 2022 SEC Examination Priorities
Brief Introduction to the 2022 SEC Examination Priorities
With the release of the 2022 SEC Examination Priorities at the end of March, it is valuable to look back and see what focuses have shifted compared to the 2021 SEC Examination Priorities.
Vigilant has provided 5 Key Differences when comparing the two Priorities.
5 Key Differences from the Examination Priorities
- Less of a focus on retail investors and a shifted focus towards private fund examinations.
- Private fund managers are now more likely to be examined than at any other time over the past five years.
- Many of the added volume of examinations appear to be more targeted generating less deficiencies, lower recoveries, and possibly fewer enforcement referrals.
- ESG was an added focus relating to materially false and misleading statements or omissions, which can result in misinformed investors.
- Regarding the effectiveness of an RIA’s Compliance Program, there was an added focus on making sure oversight practices are in place to mitigate any heightened risks, rather than making sufficient resources are available to perform core compliance responsibilities.
Vigilant’s Final Conclusion of the 2022 Examination Priorities
The 2022 Examination Priorities provide great insight and updates that are helpful for the entire Industry.
The Priorities reflect the Division of Examinations assessment of certain risks, issues, and policy matters from information they gathered, market and regulatory developments, tips, complaints, and more.
Need Additional Compliance Solutions?
Following your review of these Examination Priorities, should you require:
- Analysis of potential gaps in your compliance program;
- Need assistance in filling gaps in your program; or
- Need additional compliance resources.
Contact Vigilant today to learn more about our compliance services.