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The Securities and Exchange Commission (SEC)’s Division of Examinations (Division) announced its 2026 examination priorities (Exam Priorities) on Nov. 17, 2025. These priorities address areas of concern based on recent examinations, new or pending rules, or developments in the industry. They often forecast referrals to the Division of Enforcement if material rule violations or deficiencies are uncovered. The announcement for 2026 focuses on six different types of market participants subject to SEC regulation or oversight, as well as four risk areas impacting some market participants.
Market Participants:
| 1. | Investment Advisers |
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| 2. | Investment Companies |
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| 3. | Broker-Dealers |
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| 4. | Self-Regulatory Organizations (SROs) |
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| 5. | Clearing Agencies |
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| 6. | Other market participants, including Municipal Advisors, Transfer Agents, Funding Portals, Security-Based Swap Dealers, and Security-Based Swap Execution Facilities |
Risk Areas:
| 1. | Information Security and Operational Resiliency |
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| 2. | Emerging Financial Technology |
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| 3. | Regulation Systems Compliance and Integrity (SCI) |
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| 4. | Anti-Money Laundering |
This GT Alert discusses the Exam Priorities related to each of these market participants and the four risk areas impacting market participants.
