In 2022, multiple SEC announcements made waves throughout the Industry.
There is concern that the SEC’s agenda for 2023 may be even more aggressive than the previous year.
As the SEC works towards their regulatory goals for 2023, their pace indicates there could be additional rules announced ahead of the proposed schedule.
What Is Happening?
- Rules announced in the fall, with the expectation of a formal announcement later in the year, are on the agenda for April 2023.
- SEC Chair, Gary Gensler, has been limiting the comment period to a minimum by having a thirty day (30) period for some proposals.
- Drafted Rules that are reviewed by the Office of Management and Budget before publishing could be pushed through at an increased rate.
Vigilant’s Final Conclusion
The SEC revealed its strategic plan for 2023, which suggests that the regulatory environment could continue to change rapidly over the next year.
In preparation, many firms have increased their compliance expenditures to lower their risk of regulatory headaches, especially with the increase of Proposed and Effective Rules.
As rules and rule amendments continue to be announced and put into effect, Vigilant is prepared to support Firms who have compliance needs during this turbulent regulatory period.
With extensive industry experience, End to End, and Co-Sourced Compliance Solutions, we strive to identify and reduce the regulatory burden/risk while helping Firms achieve their business goals.