On March 8, 2016, the SEC announced the creation of a new Office of Risk and Strategy (“ORS”) within its Office of Compliance Inspections and Examinations (the “OCIE”). According to the announcement, the new office will consolidate and streamline the OCIE’s risk assessment, market surveillance and quantitative analysis teams and provide operational risk management and organizational strategy for the OCIE. ORS is expected to lead the OCIE National Exam Program’s risk-based, data-driven approach. Peter Driscoll, who will lead the new office, said that he will lead efforts to advance the SEC’s “development of new tools and techniques that strengthen the OCIE’s risk analysis, surveillance, and strategic abilities.”