Summary of private equity firms’ compliance obligations, discussion of notable developments in 2015 and outlook for 2016.

US federal laws and regulations, as well as the rules of self-regulatory organizations (SROs), impose numerous yearly reporting and compliance obligations on private equity firms. In addition to many routine and ongoing requirements, new and emerging regulatory developments also impact private equity firms’ compliance operations. This Client Alert provides a round-up of certain annual or periodic investment advisory compliance-related requirements that apply to many private equity firms. It also highlights material regulatory developments in 2015 and expectations for 2016.