The U.S. securities regulator will focus on cryptocurrencies and emerging technologies as one of its priorities this year, as it tries to keep up with the changing landscape of finance. In a statement, the Securities and Exchange Commission (SEC) said it chose focus areas that it believes present potential risks to investors and the integrity of the American capital markets. The priorities are selected and published by the SEC’s Division of Examinations, which conducts markets analysis to identify potential risks. “In a time of growing markets, evolving technologies, and new forms of risk, our Division of Examinations continues to protect investors,” said SEC Chair Gary Gensler. “In executing against the 2023 priorities, the Division will help ensure compliance with the federal securities laws and rules.” The Division plans to conduct examinations of broker-dealers and investment advisors who are using emerging financial technologies, including crypto. They will investigate whether these middlemen are meeting expected “standards of care” to investors and whether they are routinely reviewing and updating risk management procedures.
Full story : SEC Says Monitoring Advisors Shilling Crypto a Top Priority in 2023.
