The SEC recently published its draft strategic plan (Strategic Plan) for fiscal years 2018‑2022. The plan highlights the SEC’s commitment to serving the long-term interests of retail investors; becoming more innovative, responsive and resilient to market developments and trends; and leveraging staff expertise, data and analytics to bolster performance. This article analyzes the Strategic Plan’s stated goals and the initiatives designed to pursue those goals; provides key takeaways for fund managers from the plan; and offers insight from lawyers with extensive SEC experience. For more on current SEC priorities, see “SEC’s Reg Flex Agenda Promotes Transparency While Adding Potential Compliance Burdens” (Mar. 15, 2018).