The Office of Compliance Inspections and Examinations (OCIE), which is part of the US Securities and Exchange Commissionsecurities and exchanges have decided on priorities for the coming year, including in the direction of digital assets.
The emerging digital asset market poses risks for retail investors, who may not fully understand the differences between this type of asset and traditional ones, according to a new document.
Because of these risks, OCIE intends to continue to examine SEC-registered market participants in this space. The regulator will assess the following:
- suitability for investment
- portfolio management and trading methods,
- customer safety funds and assets,
- pricing and pricing
- the effectiveness of compliance monitoring programs and tools,
- supervision of employees outside of business.
Let’s remember that OCIE first added a section on cryptocurrencies in 2018 in order to study the mechanism by which service providers protect customer assets and correctly disclose the risks associated with their products.
In 2019, OCIE representatives announcedplans to monitor market participants in terms of portfolio management, trading practices, security of client funds, pricing, compliance and internal controls. This year, the agency reaffirmed its 2019 goals, adding an assessment goal for “outside employee supervision.”
The document also notes OCIE's intentContinue studying the process of accounting and safety of funds and securities. The document states that its main areas of activity include agents who develop blockchain technology and those who provide digital asset services.