Regulatory Wrap Episode 10: Exploring the SEC’s 2024 Examination Process

In Regulatory Wrap for the week to October 20, Jennie Clarke summarizes the SEC’s 2024 Examination Priorities and what the regulator plans to concentrate on in the coming year.

20 October 2023 2 mins read
by Kathryn Fallah

In Regulatory Wrap for the week to October 20, 2023:

In this Regulatory Wrap, we review the Securities and Exchange Commission’s (SEC) 2024 Examination Priorities, including focal points the regulator underlined, pertinent industry issues that were excluded or only briefly mentioned, and topics that were addressed in previous Priorities but dropped this year.

Highlights:

1. The SEC has taken a more traditional approach in its 2024 Priorities, highlighting topics like investment advisors, fiduciary duties, and liquidity as opposed to emerging risks that have been the subject of recent enforcements

2. Additionally, the regulator plans to spotlight certain trending topics, such as confirming adherence with the Marketing Rule, operational resilience, and Reg BI

3. Despite two years of consistent off-channel comms scrutiny and recordkeeping failures that account for nearly $3 billion in fines, there is interestingly no mention of these topics

4. Innovative, prevalent topics like AI are briefly mentioned, but are not covered in depth

5. While ESG has appeared in Examination Priorities for the past three years, it has been completely dropped for 2024

This Regulatory Wrap is brought to you by Global Relay’s Head of Content, Jennie Clarke.

Global Relay has a suite of compliance tools to help you meet recordkeeping requirements and mitigate the risk of being next on regulators’ radar.