A panel of present and former SEC officials at the Investment Company Institute’s recent Investment Management Conference was moderated by Matt Chambers, GC and CCO at Horizon Investments, LLC. The panel featured Vanessa L. Horton, Associate Regional Director of the Investment Adviser/Investment Company Examination Program and acting Associate Regional Director of the Broker Dealer and Exchange Examination Program at the SEC in Chicago; C. Dabney O’Riordan, Co‑Chief of the Asset Management Unit of the SEC’s Division of Enforcement (Enforcement); and Anthony S. Kelly, partner at Dechert and former Co‑Chief of the Asset Management Unit. This article outlines the panel’s thoughts on the present operations of the Division of Examinations; the potential for more aggressive enforcement activity; the implications of recent enforcement actions involving electronic communications and cybersecurity; and Enforcement’s environmental, social and governance task force. See “SEC Examinations and Enforcement Officials Discuss Key Regulatory Issues for Investment Advisers” (May 18, 2021); and “How Managers Can Navigate the Thin Line Between SEC Examinations and Enforcement” (Jan. 21, 2020).