The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations published its priorities for examinations of investment advisers, broker-dealers and transfer agents during 2015.
In addition to matters relevant to business with retail investors, OCIE indicated it will focus on:
- reviewing broker-dealers’ cybersecurity compliance and controls;
- potential equity order routing conflicts (e.g., are firms choosing trading venues based on payments or credits for order flow),
- clearing and introducing broker-dealers’ anti-money laundering programs—especially for firms that have not filed suspicious activity reports or have filed incomplete or late SARs, as well as broker-dealers that provide customers with direct market access from high-risk jurisdictions; and
- never before examined investment companies, among other priorities.
Earlier this month, the Financial Industry Regulatory Authority highlighted its focus for its 2015 reviews of broker-dealers.