SEC announces Fiscal Year 2027 examination priorities for 34,000+ registrants

The SEC's Division of Examinations published its Fiscal Year 2027 priorities, identifying focus areas for risk-based examinations covering more than 34,000 registered entities including investment advisers, broker-dealers, investment companies, and clearing agencies. The report flags adviser fiduciary duty and conflict-of-interest practices, products aimed at retail and older investors, Regulation S-P data-safeguarding compliance, and risks tied to tokenization and evolving market infrastructure. SEC Chairman Paul Atkins said examinations remain a key tool for driving compliance and protecting investors.

Why it matters. The priorities signal where SEC examiners, and potentially follow-on enforcement, will focus in the coming year, informing how plaintiff-side firms assess disclosure and conflict risks at advisers and broker-dealers.