The SEC Division of Examinations released its 2026 examination priorities, highlighting AI use in advisory services, cybersecurity practices, and Marketing Rule compliance as key focus areas for investment adviser examinations.
The examination priorities emphasize that advisors bear fiduciary responsibility for AI-assisted investment decisions and should maintain adequate oversight and documentation of AI tools used in client-facing activities.
Cybersecurity remains a top priority, with examiners focusing on incident response preparedness, vendor oversight, and data protection practices, particularly following the 2024 amendments to Regulation S-P.
Marketing Rule compliance examinations will assess whether firms have properly implemented policies for testimonials, endorsements, performance advertising, and third-party ratings in accordance with the rule.
Firms are expected to review their compliance programs against the published priorities and address any identified gaps ahead of examination cycles.