The SEC’s fiscal 2027 examination priorities put broker-dealer financial resilience, execution and anti-money-laundering controls among its central areas of attention. Published on 23 October 2026, the plan guides a risk-based examination programme across more than 34,000 registrants in several categories.[1]
Broker-dealer issues specified in the underlying report
| Area | What examiners plan to review |
|---|---|
| Financial responsibility | Net capital, customer protection, daily reserve computations and Treasury-clearing changes |
| Liquidity and prime brokerage | Stress resilience, concentration and counterparty credit exposure |
| Extended-hours trading | Availability and readiness of liquidity providers, market/credit controls and best execution |
| Retail recommendations | Regulation Best Interest, costs, alternatives, conflicts and account selection |
| Foreign omnibus accounts | Due diligence where underlying customer or beneficial-owner visibility is limited |
| Supervision | Policies, controls and qualified responsibility for new business and products |
The AML section also calls out independent testing, ongoing customer due diligence and suspicious-activity reporting. It links foreign-company trading risks to possible manipulation schemes and discusses sanctions compliance. These are examination priorities under existing obligations, rather than findings that a named broker has failed them.[2]
Infrastructure and technology remain part of the wider programme
The broader priorities cover cybersecurity, operational resilience and protection of customer information, along with emerging technologies and market changes such as tokenisation and expanded Treasury clearing. The report treats these as risks and implementation issues to assess across relevant regulated populations.[1]
The document expressly states that it has no legal force, changes no applicable law and creates no new obligations. The SEC also says its priorities are not exhaustive and can change as market events or new risks emerge. Firms still need to apply the rules relevant to their own activities, rather than treat the published list as the full extent of an examination.[1][2]
Sources & further reading
- SEC Announces Fiscal Year 2027 Examination Priorities US Securities and Exchange Commission · 23 Oct 2026 · Accessed 26 Oct 2026
- FY 2027 Examination Priorities, Division of Examinations US Securities and Exchange Commission · 23 Oct 2026 · Accessed 26 Oct 2026