Summary of private equity firms’ compliance obligations, discussion of notable developments in 2017, and outlook for 2018.

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 roundup of certain annual and periodic investment advisory compliance-related requirements that apply to many private equity firms. It also highlights material regulatory developments in 2017 and expectations for 2018.