SEC exam priorities for 2026 signal heightened focus on firmwide compliance

The U.S. Securities and Exchange Commission’s (SEC) Division of Examinations released its 2026 examination priorities, which give companies a roadmap of areas of heightened risk and regulatory focus for next year. This report affirms the agency’s pivot from regulation by enforcement that SEC Chair Paul Atkins announced earlier in the year, and the need for stronger compliance at firms. 

The 2026 examination priorities, published on Nov. 17, highlight the risk firms may face in the coming year, including intensified scrutiny of fiduciary and conduct standards for investment advisers, compliance with financial responsibility rules for broker-dealers, and a sustained focus on cybersecurity and operational resilience. The report also focuses on private funds and alternative investments, but does not specifically mention cryptocurrency, which SEC leadership has signaled will be under less rigorous enforcement. The report also emphasizes stronger compliance programs, better documented oversight, and more consistent adherence to regulatory obligations.