In March 2025, the SEC Division of Examinations (Division) celebrated the 30^th anniversary of its creation. A lot has happened since then – including a move from generalist staff members to more specialists; increases in the use of technology and data; the creation of the Private Funds Unit; and the release of the Division’s annual exam priorities and risk alerts. This article, the first in a two-part series, discusses the Division’s creation and examines its evolution over the years, with insights from former Division staff members. The second article will look at the present state of the Division and speculate on what its future might hold. See “Present and Former SEC Officials Discuss Examinations” (Jun. 2, 2022).