In a recent speech, Stephanie Avakian, Co-Director of the Enforcement Division (Division) of the SEC, outlined new initiatives aimed at shielding retail investors and protecting against cybersecurity risks. She also emphasized that the Division will pursue the same mission and high-level priorities despite new leadership within the SEC. Avakian’s speech offers an important look into the areas fund managers should prioritize with respect to their disclosure and compliance. This article summarizes the portions of the speech most relevant to fund managers. For additional insights from Avakian, see our two-part series on SEC cybersecurity enforcement and examination priorities: Part One (May 11, 2017); and Part Two (May 18, 2017).