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ARTICLE · 03 MARCH 2021

SEC Division Of Examinations Outlines Focus On Digital Assets

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The SEC Division of Examinations (the "Division") (formerly known as the Office of Compliance Inspections and Examinations or OCIE) outlined areas of focus concerning digital asset securities for future examinations.

United StatesTechnology
Conor Almquist
Conor Almquist
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The SEC Division of Examinations (the "Division") (formerly known as the Office of Compliance Inspections and Examinations or OCIE) outlined areas of focus concerning digital asset securities for future examinations. The Division highlighted conduct involving digital assets, with different points of emphasis as to different types of regulated entities.

Investment Advisers

With regard to investment advisers managing digital assets, the Division stated that its examinations will assess regulatory compliance associated with:

  • portfolio management, including whether an adviser (i) classifies digital assets as securities, (ii) conducts appropriate due diligence on digital assets including regarding the technology aspects of any product, (iii) evaluates and mitigates risks associated with trading venues and trade execution and settlement facilities, (iv) manages risks relating to "forked" and "airdropped" digital assets and (v) generally complies with its fiduciary

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