SEC Announces 2027 Exam Priorities

The priorities highlight areas that the Division believes currently present heightened risks to investors or market integrity and will help guide its risk-based program during the fiscal year.

Key FY 2027 areas of focus include investment advisers’ fiduciary obligations, conflict of interest, investment recommendations, and compliance programs.

The priorities also include retail investor protection, particularly regarding complex, higher-risk, and illiquid products, and oversight of private funds, private credit, and other complex investment strategies.

Other focus areas are broker-dealer financial responsibility, trading practices, supervision, and anti-money laundering compliance.

The Division will also focus on operational resiliency, cybersecurity, and protection of customer information.

Emerging technologies, including super intelligence and other advanced technologies that may affect market operations, compliance, fraud prevention, and investor protection, are a key area of focus.

Risks associated with evolving market infrastructure, including Treasury clearing reforms, tokenization, and related developments, are also highlighted.