“`html

In a significant development, the Securities and Exchange Commission (SEC), through its Division of Examinations, has unveiled its 2025 examination priorities. These priorities, designed for registered investment advisers, investment companies, and broker-dealers, reflect a comprehensive focus on areas such as private fund advisers, Regulation Best Interest (Reg BI) compliance, and cybersecurity. The backdrop of a changing presidential administration adds a layer of complexity, though the SEC is known for maintaining continuity in its enforcement areas.


Eric t. Mikkelson Carissa occhipinto

Investment Advisers

The Division will prioritize examinations for investment advisers who have not previously been examined, with a strong emphasis on fiduciary standards, compliance programs, and private fund advisers. The focus will extend to reviewing investment advice, compliance programs, and ensuring transparency and disclosure in conflicts of interest, particularly in complex and high-cost products.


Fiduciary Duties

The Division remains focused on investment advisers’ adherence to fiduciary standards of conduct in 2025. As fiduciaries, advisers owe duties of care and loyalty to their clients. This means advisers must act in the best interests of their clients at all times, and they must eliminate or make full and fair disclosure of all conflicts of interest that have the potential to impact an advisers’ ability to render disinterested advice.


Broker-Dealers

Broker-dealers will be under scrutiny for their compliance with Regulation Best Interest and Form CRS obligations. Examinations will assess the soundness of investment recommendations and the adequacy of disclosure practices. Other emphasized areas include financial responsibility and trading-related practices.


Regulation Best Interest

With respect to broker-dealers, the Division will continue to examine broker-dealer practices related to Reg BI, which establishes the standard of conduct broker-dealers must follow when recommending securities transactions or strategies to clients.


Risk Areas

Key risk areas identified for 2025 include cybersecurity, financial technologies, and crypto assets. The Division stresses the importance of robust cybersecurity measures, compliance with recent regulatory amendments, and the responsible integration of financial technologies like AI in investment tools and advisory services.


By maintaining focus on these crucial areas, the Division aims to safeguard investors and ensure the stability and integrity of the financial markets. For more detailed insights, you can refer to the original article by Eric Mikkelson and Carissa Occhipinto on Stinson LLP’s website.


Download the PDF version for further reading.
“`

More Articles

Getting licensed or staying ahead in your career can be a journey—but it doesn’t have to be overwhelming. Grab your favorite coffee or tea, take a moment to relax, and browse through our articles. Whether you’re just starting out or renewing your expertise, we’ve got tips, insights, and advice to keep you moving forward. Here’s to your success—one sip and one step at a time!

PropTech Funding Soars to $16.7B as Real Estate Enters a New Era of AI-Driven Innovation

PropTech investment surged nearly 68% in 2025, hitting a massive $16.7 billion and surpassing pre-pandemic highs. Investors are shifting toward practical, AI-powered tools that streamline operations, improve efficiency, and deliver immediate results. With 2026 shaping up to be a year of selective but strong growth, real estate professionals who stay ahead of tech trends will gain a major competitive edge.

Florida Insurance Shake-Up: Citizens Announces Even Bigger Rate Cuts for 2026

Florida homeowners are finally seeing real relief as Citizens Property Insurance Corp. unveils an average 8.7% rate decrease for 2026—its largest cut in over a decade. Sparked by recent legislative reforms, a calm hurricane season, and renewed competition from insurers reentering the state, the drop is poised to significantly impact homeowners, real estate professionals, and industry trainees across Florida.

Tampa’s Real Estate Market Enters a Smarter, More Selective Growth Phase

Tampa’s commercial real estate market is still growing, but investors are shifting from rapid dealmaking to highly selective, detail‑driven decisions. Population growth, steady office demand, stabilizing industrial activity, and a rebound in retail are keeping the market strong, while health‑care properties are emerging as a major sector for 2026. The region’s next chapter is defined by precision, disciplined underwriting, and long‑term strategy rather than speed.

Homesage.ai Launches Lightning-Fast AI Comps, Slashing Valuation Time for Real Estate Pros

Homesage.ai has released a new AI-powered comps engine that cuts property valuation time from hours to seconds by analyzing hundreds of data points across listings, public records, and proprietary datasets. Designed for agents, investors, and lenders, the tool delivers highly accurate comparable properties and real-time market insights, giving professionals a competitive edge in today’s rapidly shifting housing landscape.

Are the Massive Realtor Settlements Truly Fair? Federal Judges Are Digging for Answers

A panel of federal judges is closely examining whether the National Association of Realtors’ billion‑dollar antitrust settlements—and similar deals struck by major brokerages—are genuinely fair to the millions of buyers and sellers affected. With plaintiffs arguing that homebuyers’ rights were improperly dismissed and compensation falls far short of true losses, the court’s upcoming decision could reshape commission practices and spark one of the most significant structural shifts in modern real estate.

The SEC’s New “Small RIA” Definition Could Reshape M&A and Spark a Wave of Breakaway Advisers

The SEC is proposing a dramatic shift in how it defines a “small” registered investment adviser — raising the threshold from under 25 million in assets to under 1 billion. The change would instantly reclassify about 96 percent of RIAs and could create ripple effects across mergers and acquisitions, integration planning, and breakaway adviser activity. While the move aims to reduce administrative burden, it may also introduce new complexities for firms scaling past the billion‑dollar mark.