The SEC OCIE has announced its exam priorities for 2018, which are targeted toward improving compliance, preventing fraud, monitoring risk and informing policy. While the SEC will continue to prioritize their commitment to protect retail investors, including seniors and those saving for retirement, the SEC OCIE,

“will continue to prioritize cybersecurity in each of our examination programs. Our examinations have and will continue to focus on, among other things, governance and risk assessment, access rights and controls, data loss prevention, vendor management, training, and incident response.​”

In general, the priorities reflect certain practices, products, and services that OCIE believes may present potentially heightened risk to investors and/or the integrity of the U.S. capital markets. These include: 1. Matters of importance to retail investors, including seniors and those saving for retirement; 2. Compliance and risks in critical market infrastructure; 3. Financial Industry Regulatory Authority (FINRA) and Municipal Securities Rulemaking Board (MSRB); 4. Cybersecurity; and 5. Anti-Money laundering programs.

SEC Examinations of regulated entities increased by 20% from 2015 to 2016.  And the SEC’s Budget Estimates for 2017-18 have sought to increase Examinations to 13% of all registered investment advisers, up from 10-11% in prior years.

ACE IT Solutions helps firms manage their cybersecurity risks. We’ve structured our cybersecurity program to stay ahead of — and effectively respond to — cyber threats and their diverse, multi-faceted attacks. ACE IT Solutions highly-effective security services and tools that can be mixed and matched according to each business’ specific needs.

ACE IT Solutions and our cybersecurity business partners are experts at assessing risk and helping firms prepare for OCIE exams. Contact us for a cybersecurity risk assessment at 646.558.5575.

 

Read the full report of SEC OCIE 2018 Exam Priorities here: https://www.sec.gov/about/offices/ocie/national-examination-program-priorities-2018.pdf

 

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