SEC在2026年考试中优先关注人工智能、受托责任和披露，并警告不要进行误导性营销。 SEC prioritizes AI, fiduciary duties, and disclosures in 2026 exams, warns against misleading marketing.

证交会已公布了其2026年审查优先事项,将重点从以往的领域转移开来,如加密货币、流动资产估值和市场规则合规,同时强调人工智能、信托义务、客户披露和减少利益冲突。 The SEC has released its 2026 examination priorities, shifting focus away from past areas like cryptocurrency, illiquid asset valuations, and marketing rule compliance, while emphasizing artificial intelligence, fiduciary duties, client disclosures, and conflict of interest mitigation. 2025年12月16日的风险警报凸显了目前对营销材料不当使用证词、背书和第三方评级的关切,强调披露不足、缺乏监督以及尽职调查不足,特别是在补偿和影响力安排方面。 A December 16, 2025, risk alert highlights ongoing concerns over improper use of testimonials, endorsements, and third-party ratings in marketing materials, stressing inadequate disclosures, lack of oversight, and insufficient due diligence—especially regarding compensation and influencer arrangements. 证交会警告顾问加强合规、改进文件编制和确保透明度,以避免执法行动。 The SEC warns advisers to strengthen compliance, improve documentation, and ensure transparency to avoid enforcement actions.