2020 OCIE Priorities: Private Equity Remains Area of Interest, Focus on Retail and New SEC and Market-Wide Developments

15 January 2020
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Key takeaways:
  • The Office of Compliance Inspections and Examinations (“OCIE”) of the U.S. Securities and Exchange Commission (the “SEC”) recently published its 2020 examination priorities (the “2020 Priorities”).
  • OCIE continues to focus on protecting retail investors and on assessing market-wide risks as well as never-before and not-recently examined registered investment advisers, among others.
  • Private fund sponsors have been specifically identified as a priority, particularly regarding controls with respect to conflicts of interest and material non-public information and the accuracy and adequacy of disclosures relating to fees and expenses.