On October 16, 2023, the United States Securities and Exchange Commission’s Division of Examinations (the “Division”) publicised the 2024 Examination Priorities as reported by Dinsmore & Shohl LLP. Typically, the Examination Priorities are circulated during the first quarter of the relevant calendar year. However, the Division has shifted the 2024 publication schedule, synchronizing it with the commencement of the SEC’s fiscal year.
The Division of Examinations is a critical organ within the SEC, spearheading examinations into potentially problematic investment advisors amongst other mission critical responsibilities. As part of this role, the Division publishes its Examination Priorities annually, which informs legal professionals and investment advisors what areas the Division intends to scrutinize over the coming year.
To accommodate this adjustment, legal professionals working in large corporations or law firms will need to keep a keen eye on these priorities and make sure they are well-prepared for any possible forthcoming scrutiny. While this challenge may be new, it is remembered that staying informed about these priorities may help prevent unnecessary legal predicaments and contributes to the stability of their firms within the legal framework regulated by the SEC.
Details regarding the specific priorities laid out by the Division for the 2024 fiscal year are not immediately available in this note. It would be advisable for legal professionals to follow up on these details from the original publication by the Division.