The U.S. Securities and Exchange Commission’s Office of the Investor Advocate delivered to Congress a report setting out the office’s objectives and priorities for fiscal year 2026, centred on research and advocacy aimed at addressing retail investor risks and improving investor-facing information. The priorities include investor research and testing on existing and proposed retail disclosures, using nationally representative surveys to inform SEC activities and policy priorities, and addressing concerns of retail investors affected by financial fraud, including through the Interagency Securities Council. The report also highlights a focus on private market investments held in retirement accounts and on China-based variable interest entities listed on U.S. exchanges.