On July 28, the SEC announced the creation of the Event and Emerging Risks Examination Team (“EERT”) as part of its Office of Compliance Inspections and Examinations (“OCIE”).

The EERT will work with OCIE’s examination staff in each of the regional offices to implement OCIE exam priorities, including those in OCIE’s annual exam priorities publication. EERT will proactively engage financial firms about emerging threats and current market events to quickly allocate resources and expertise to the SEC’s regional offices when such matters arise. It will also help ensure that firms are prepared to address threats, incidents and emerging risks, and assist OCIE staff in responding to significant market events, such as exchange outages, liquidity events, and cyber-security and operational resiliency concerns.

Adam D. Storch will be the Associate Director of the EERT and oversee the team, which includes specialized examiners, industry experts, accountants and quantitative analysts.

Click here to read the SEC’s full release.

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