SEC Announces Examination Priorities for 2019
The Office of Compliance Inspections and Examinations (“OCIE”) of the U.S. Securities and Exchange Commission (“SEC”) recently released its “2019 Examination Priorities,” which serve to highlight the key focus areas for examinations during 2019. OCIE publishes its examination priorities annually to promote transparency of its examination program and provide insights into the areas it believes present potentially heightened risk to investors or the integrity of U.S. capital markets. This memorandum provides a high-level summary of those areas discussed in the “2019 Examination Priorities” relevant to investment advisers that manage private funds and registered funds.