The U.S. Securities and Exchange Commission’s (SEC) Division of Examinations Monday, unveiled its priorities for fiscal year 2026. Unlike previous years, crypto and digital-asset services were nowhere to be found as a standalone risk area in the public statement.
The SEC’s Division of Examinations, responsible for overseeing the regulatory compliance of investment advisers, broker-dealers, clearing agencies, and stock exchanges, announced that its priorities will center on fiduciary responsibilities, conduct standards, and asset custody instead. The release also highlights a focus on implementing recent regulatory changes like the 2024 amendments to Regulation S‑P, which tighten customer data privacy protections.
Atkins frames it as constructive, not punitive
SEC Chairman Paul Atkins characterized the updated exam priorities as part of a more engagement-focused regulatory style. “Examinations are an important component to accomplishing the agency’s mission, but they should not be a ’gotcha’ exercise,” he said. He is of the opinion that the increased transparency should help firms prepare and foster ‘constructive dialogue’ with examiners.
Acting Director Keith Cassidy backed that tone, noting that the 2026 agenda builds on the Division’s “four pillars” of promoting compliance, preventing fraud, monitoring risk, and having informed policy.
The crypto industry can look at these developments in a positive light, where it could be interpreted as a welcome loosening of regulatory pressure. The 2026 agenda also raises the bar for traditional firms in custody, data protection, and conduct, especially in areas that touch both conventional and crypto‑native players. As enforcement intensity eases, many in the industry expect the SEC to deliver clearer, more deliberate rulemaking. The shift could be part of the broader pro-innovation pivot under Chair Atkins.