Investment Funds Update

SEC’s Division of Examinations Publishes Risk Alert and Compliance Guidance for Digital Asset Securities Activities

March 3, 2021

In a Risk Alert published on February 26, 2021, the U.S. Securities and Exchange Commission’s Division of Examinations prioritized risks identified in recent examinations concerning the offer, sale and trading of digital assets, including some that are securities, and digital ledger technology. The Risk Alert signals that the staff has stepped up and refined its focus on digital asset securities activities among broker-dealers, investment advisers, transfer agents and other market participants.

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Thank you to Sidley Associate Sasha P. Hondagneu-Messner for his significant contributions to this Sidley Update. If you have any questions regarding this Sidley Update, please contact the Sidley lawyer with whom you usually work, or