The Securities and Exchange Commission released Monday its exam priorities for 2026, with the agency zeroing in on advisors' fiduciary duties as well as broker-dealer sales practices, including those related to Regulation Best Interest and rollover recommendations.
“Examinations are an important component to accomplishing the agency’s mission, but they should not be a ’gotcha’ exercise,” said SEC Chairman Paul Atkins, in a statement. “Today’s release of examination priorities should enable firms to prepare to have a constructive dialogue with SEC examiners and provide transparency into the priorities of the agency’s most public-facing division.”
“In this increasingly complex and changing financial and regulatory environment, we strive to improve compliance in a way that that is both transparent and practical,” added Keith Cassidy, acting director of the Division of Examinations. “Fiscal year 2026 marks an important time for the Division to build on our strengths, advance our mission with renewed focus, and ensure that our examination program continues to protect the investing public and support fair and orderly capital markets.”
The agency's "high-level focus remains consistent across three themes: adherence to fiduciary duty, compliance program effectiveness, and oversight of newly registered or never examined advisers," the Investment Adviser Association said in a statement. "For 2026, the SEC places additional focus on complex and alternative products, operational and third-party risks, [and] compliance with new data privacy requirements (Reg S-P)."
See the gallery for some of the agency's top exam priorities for 2026.
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