On February 7, 2023, the Division of Examinations of the U.S. Securities and Exchange Commission (the “Division” and the “SEC,” respectively) announced its examination priorities for 2023. This year, the Division identified new and significant focus areas including: (i) recently adopted rules under the Investment Advisers Act of 1940 (“Advisers Act”) and Investment Company Act of 1940 (“Investment Company Act”); (ii) registered investment advisers (“RIAs”) to private funds; (iii) Regulation Best Interest (“Reg BI”) and fiduciary duty; and (iv) Environmental, Social and Governance (“ESG”) investing.