The SEC’s Examination Priorities for 2024
The United States Securities and Exchange Commission (SEC) recently released its examination priorities report for 2024. This report highlights the agency’s focus on monitoring the growing presence of crypto assets and emerging financial technologies. The SEC’s Division of Examinations will closely scrutinize broker-dealers, advisers, and transfer agents who introduce new products or innovative practices, including those involving technology such as mobile applications and online solutions.
Furthermore, the SEC will conduct examinations of registrants in the cryptocurrency market to ensure compliance with standards of conduct when advising customers, especially retail-based and older investors. The examinations will cover various aspects such as risk disclosures, compliance with regulations like the Bank Secrecy Act, and operational resilience measures.
Legal Disputes and SEC’s Commitment
The SEC is currently involved in legal disputes with Binance.US and Coinbase regarding customer asset management and the categorization of digital assets as securities. Despite these disputes, the SEC remains dedicated to overseeing the financial landscape, including cryptocurrencies.
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