October 18, 2023 - The Securities and Exchange Commission's (SEC) newly released 2024 examination priorities include tighter risk monitoring and management of crypto assets as specialized compliance support remains in critically short supply, according to an article in the Wall Street Journal. The SEC will be looking to determine if registrants involved with crypto assets: (1) meet and follow their respective standards of conduct when recommending or advising clients regarding crypto assets; and (2) routinely review, update, and enhance their compliance practices (including crypto asset wallet reviews, custody practices, Bank Secrecy Act (BSA) compliance reviews, and valuation procedures), risk disclosures, and operational resiliency practices (i.e., data integrity and business continuity plans).
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