The SEC’s new priorities: climate, seniors, cryptos & fintechs

CompassThe SEC has released its new sets of priorities for 2021. Here they are.

  • Climate & ESG risks, disclosures and policies will be the focus #1.
  • Retail investors, seniors, retirement savors: Reg BI and Fiduciary Duty compliance
  • Information Security & Operational Resiliency: disaster recovery plans, especially for SIFI companies, data security.
  • FinTechs, innovation and digital assets: compliance, trading applications & practices.
  • AML
  • LIBOR transition
  • for IA and investment companies:
    • Compliance programs, ESG factors, open-end funds & ETFs, adequacy of disclosures, false advertisement
    • registered funds (mutual & ETFs): disclosures, valuation, filings, personal trading, contracts & agreements, fee waivers, actively managed ETFs, securities lending practices.
    • RIAs to private funds: disclosures, concentration in structured products (CLOs, MBS…), default risk.
  • broker-dealers and municipal advisors: customer protection rule, net capital rule, order routing and rule 606 (Robinhood!)
  • Market infrastructure
    • Clearing agencies
    • national securities exchanges
    • Systems, Compliance & Integrity procedures: IT governance, cyber threats, business continuity, vendor management, cloud services.
    • Transfer agents
    • FINRA & MSRB: oversight of BDs and advisors.


A few comments:

  • You can see that the election had some impact, notably through the focus on climate & ESG, retail & seniors (Reg BI) and FinTechs.
  • Gary Gensler is a specialist of cryptocurrencies, with a well-rounded background.
  • These priorities probably explain why our friends at CoinSeed suddenly had some regulatory focus.
  • Hard also to avoid the elephant in the room (Robinhood) as well – see our articles below.

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Written by Gontran de Quillacq

Gontran de Quillacq is an expert witness and a legal consultant. He is a recognized authority in options, trading, derivatives, structured products, portfolio management, hedge funds, mathematical finance, quantitative investment, strategy research and financial markets in general.



  1. Buy Now Pay Later is the new pay day loan | Navesink International - […] sure where this will go, but the SEC’s priorities for 2021 include consumer protection and FinTechs. It’s fair to…

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