SEC announces focus on tokenization, cybersecurity, and advanced AI technology risks in fiscal year 2027 inspections On October 23, the US Securities and Exchange Commission (SEC) announced its inspection focus for the fiscal year 2027, and will continue to conduct risk-based inspections on over 34000 registered institutions, covering investment advisors, funds, brokers, clearing houses, and other market participants. The SEC stated that in fiscal year 2027, it will focus on areas such as investment advisor fiduciary responsibility and conflicts of interest, retail investor protection, private equity funds and private credit, broker anti money laundering and transaction supervision, operational resilience, and cybersecurity. Emerging technologies and market infrastructure are also highlighted: the SEC will focus on the impact of advanced technologies, including "super intelligence", on market operation, compliance, fraud prevention and investor protection, and assess the risks brought about by treasury bond clearing reform, tokenization and related market structure changes. The SEC emphasizes that the above items are not a complete checklist, and regulatory focus may still be adjusted with market events, new products, new technologies, and changes in investor risks.