SEC Focus for 2019

The SEC today released their list of matters which they will be most focused upon in the coming year.

Matters relating to advisers are these: protection of retail investors, including seniors and those saving for retirement.  Clarity of disclosure of fees and expenses, supervision of representatives selling product, and brokers holding customer assets are specifically listed.  The focus on protecting seniors is not surprising, as many of the abuses noted in SEC actions this current year have involved duping retirees and near-retirees.

The SEC also says they will focus on cybersecurity (now so prevalent that it is expressed as a single word), particularly “proper configuration of network storage devices, information security governance, and policies and procedures related to retail trading information security.”

There is also focus on matters affecting the markets generally, monitoring market infrastructure, FINRA and money laundering.  Nothing directly related to reporting requirements for registered companies, something of a surprise.

 


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