SEC Publishes Draft Strategic Plan, Says it Must Pursue New Authorities from Congress

The Securities and Exchange Commission (SEC) has published a draft strategic plan for the 2022 to 2026 fiscal years.

The plan targets three goals:

  • Protect working families against fraud, manipulation, and misconduct;
  • Develop and implement a robust regulatory framework that keeps pace with evolving markets, business models, and technologies; and
  • Support a skilled workforce that is diverse, equitable, and inclusive and is fully equipped to advance agency objectives.

The SEC’s stated mission is as follows:

“To protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.”

The brief document notes that changes in technology require adaptation including:

“… expanding disclosure and analytical tools, broadening the use of machine learning and artificial intelligence, developing long term risk analysis directly connected to policy development, and focusing on more strategic and collaborative analysis across all regulated activities.”

The document states that private markets and new financial instruments “require the agency to rapidly update and evolve…” and points to a need to “develop specific regulations” to maintain market integrity.

The draft also claims:

“… the SEC must pursue new authorities from Congress where needed, continue to effectively collaborate with other regulators, and engage more proactively on digitization initiatives.”

In regards to crypto assets, or digital assets, the SEC says it must enhance its expertise “beyond equities” without providing specific detail on what this may entail.

The SEC is seeking feedback from the public regarding the strategic plan for 30 days after its publication in the Federal Register.

The document is available here.

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