The Securities and Exchange Commission (SEC) has outlined its examination priorities for fiscal year 2025, emphasizing a continued focus on cybersecurity and artificial intelligence (AI) risks. Announced on October 21, 2024, these priorities are part of the SEC's Division of Examinations' strategy to enhance compliance and consumer protection within the financial services sector. The SEC's focus on AI and cyber-risk-related enforcement cases is expected to significantly impact registered investment advisers and private fund advisers. Concurrently, the New York Department of Financial Services has issued guidance addressing AI-related cybersecurity risks, underscoring the growing regulatory attention on these issues.