SEC Investor Advocate Outlines FY2026 Objectives: Focus on Retail Protection, Disclosure Efficacy, and Private Market Risks
On June 25, 2025, the Securities and Exchange Commission’s Office of the Investor Advocate submitted its annual Report to Congress, outlining the Office’s key policy objectives and areas of focus for Fiscal Year 2026. As retail participation in the markets continues to rise, the Investor Advocate’s priorities reflect a broader regulatory shift toward more data-driven investor protection efforts, disclosure modernization, and a closer examination of opaque market structures—including risks tied to private market exposure in retirement accounts and China-based issuers operating through variable interest entities (VIEs).
Unpacking the SEC’s 2025 Examination Priorities: What’s on the Horizon for Investment Advisers, Broker-Dealers, and the Financial Sector
With the dawn of a new fiscal year, the U.S. Securities and Exchange Commission’s (SEC) Division of Examinations has unveiled its 2025 examination priorities. This annual roadmap serves as both a warning and a guide for firms navigating the ever-evolving regulatory landscape. The 2025 priorities not only highlight long-standing risk areas like fiduciary duty and cybersecurity, but also shine a spotlight on cutting-edge issues such as artificial intelligence and the growing complexities surrounding crypto assets.