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Clifford Chance

Clifford Chance


SEC Outlines Investment Manager Examination Priorities for 2020

15 January 2020

On January 7, 2020, the Office of Compliance Inspections and Examinations of the U.S. Securities and Exchange Commission released its 2020 annual examination priorities. Like in prior years, OCIE is prioritizing “perennial risk areas,” including (1) the protection of retail investors, (2) market infrastructure, (3) information security, and (4) anti-money laundering programs, but has also signaled its intention to examine firms in emerging risk areas, such as robo-advice, digital assets, cybersecurity, and new rules under the Investment Advisers Act of 1940, as amended and interpretations on standards of care.

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