SEC Seeks Comment on Strategic Plan for Fiscal Years 2018-2022
On June 19, the Securities and Exchange Commission (SEC or Commission) published a draft strategic plan (the proposal) that focuses on investors, innovation, and performance as the top strategic goals in coming years. The proposal was prepared in accordance with the Government Performance and Results Modernization Act of 2010 , which requires all federal agencies to restate their missions and set forth planned initiatives, and strategic goals for each four year period.
The SEC is seeking public comment on the proposal that will guide the SEC’s priorities for fiscal years 2018 - 2022. The proposal highlights the SEC’s commitment to serving the long-term interests of Main Street investors; becoming more innovative, responsive, and resilient to market developments and trends; and leveraging staff expertise, data and analytics to bolster performance.
If you are interested in participating in a task force that will evaluate the proposal and consider whether Nareit should develop a response, possibly including suggested regulatory or enforcement initiatives relevant to the REIT industry, please contact George Yungmann at email@example.com by July 5. Comments on the proposal are due to the SEC by July 25.
The proposal includes the following goals for the Commission:
- Focus on the long-term interests of Main Street investors.
- Enhance its understanding of the channels retail and institutional investors use to access the capital markets to more effectively tailor SEC policy initiatives.
- Enhance its outreach, education, and consultation efforts, including ways that are reflective of the diversity of investors and businesses.
- Pursue enforcement and examination initiatives focused on identifying and addressing misconduct that impacts retail investors.
- Modernize design, delivery, and content of disclosure so investors, particularly retail investors, can access readable, useful, and timely information to make informed investment decisions.
- Identify ways to increase the number and range of long-term, cost-effective investment options available to retail investors, including by expanding the number of companies that are SEC-registered and exchange-listed.
- Recognize significant developments and trends in the evolving capital markets and adjust efforts to ensure that the Commission is effectively allocating resources.
- Expand market knowledge and oversight capabilities to identify, understand, analyze, and respond effectively to market developments and risks.
- Identify, and takes steps to address, existing SEC rules and approaches that are outdated.
- Examine strategies to address cyber and other system and infrastructure risks faced by our capital markets and our market participants.
- Promote agency preparedness and emergency response capabilities.
- Elevate the SEC’s performance by enhancing its analytical capabilities and human capital development.
- Focus on the SEC’s workforce to increase its capabilities, leverage its shared commitment to investors, and promote diversity, inclusion, and equality of opportunity among the agency’s staff.
- Expand the use of data analytics to inform how we set regulatory priorities and focus staff resources, including developing a data management program that treats data as an SEC-wide resource with appropriate data protections, enabling rigorous analysis at reduced cost.
- Enhance the SEC’s analytics of markets and industry data to prevent, detect, and prosecute improper behavior.
- Enhance the Commission’s internal control and risk management capabilities, including developing a robust and resilient program for dealing with threats to the security, integrity, and availability of the SEC’s systems and sensitive data.
- Promote collaboration within and across SEC offices to ensure that the Commission is communicating effectively across the agency, including through evaluation of key internal processes that require significant collaboration.