The rules and regulations governing private equity and hedge fund advisers continue to develop in response to changes in technology. As a result, advisers are subject to an ever-increasing degree of supervision by the Securities and Exchange Commission (SEC) and self-regulatory organizations. This update summarizes some of the most important developments of the past year. We will focus on SEC examination priorities, look at some significant recent regulatory developments, and review certain recent SEC enforcement actions. Many investment advisers have already adopted similar policies and procedures to safeguard data and customer information, and it is hoped that others will quickly follow suit.
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