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Funds in Focus: Top SEC Exam and Enforcement Trends

The Securities and Exchange Commission’s (“SEC”) National Examination Program is designed to improve compliance, prevent fraud, monitor risk and inform policy. It is also a consistent source of referrals to the SEC’s Division...more

Fifth Circuit Strikes Down Private Fund Adviser Rules

In a significant decision released Wednesday morning, a unanimous three-judge panel for the U.S. Court of Appeals for the Fifth Circuit vacated what have come to be known as the Private Fund Adviser Rules, a set of rules and...more

SEC Proposes Advisers Act Reforms Focusing on Private Fund Investor Protections

On February 9, 2022, the U.S. Securities and Exchange Commission (the "SEC") proposed new rules and amendments to existing rules (the "Proposed Rules") under the U.S. Investment Advisers Act of 1940, as amended (the "Advisers...more

2020 Annual Review and Outlook for Hedge Funds, Private Equity Funds and Other Private Funds

This yearly report provides a summary of some of the significant changes and developments that occurred in the past year in the hedge fund and private equity spaces, as well as certain recommended practices that investment...more

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