In an annual report, the SEC Division of Examinations identified current risks for investors and registrants and highlighted key areas for examination in 2024.
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SEC Commissioner Mark T. Uyeda touted the benefits of new technologies for markets, investors and regulators. He argued that "[j]ust because something is new does not mean that regulators should fear it and preclude financial institutions from utilizing it."
The SEC added 20 new positions to the Division of Enforcements Crypto Assets and Cyber Unit. The Unit combats fraud and other abuses in crypto markets.
SEC Commissioner Hester M. Peirce pressed regulators to allow innovators greater market freedom, stating that "regulation needs to leave room for experimentation, tinkering, and, yes, failure."
In testimony before the U.S. House Appropriations Subcommittee on Financial Services and General Government, SEC Chair Gary Gensler and Treasury Secretary Janet Yellen testified on the impact of market developments on agency budgets.