Proskauer has released the 2016 Proskauer Annual Review and Outlook for Hedge Funds, Private Equity Funds and Other Private Funds. This 135-page report provides a summary of some of the significant changes and developments that occurred in the past year in the private equity and hedge funds space, as well as certain recommended practices that investment advisers to hedge funds, private equity funds and other private funds should consider when preparing for 2017.
Highlights include:
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SEC examination priorities and initiatives and enforcement developments related to the private fund industry, as articulated by SEC officials and corroborated by industry participants, including a discussion of the SEC's self-described first-ever settlement with a private fund adviser over broker-dealer registration requirements;
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A discussion of the SEC's much-heralded and ever-broadening whistleblower program, including an overview of the principal developments in the SEC's efforts to scrutinize compliance manuals, codes of ethics, employment agreements, severance agreements and other documentation governing employer-employee relationships;
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A discussion of the SEC's ongoing focus on enforcement of the Foreign Corrupt Practices Act, including an analysis of the significant settlements reached over the past year, which could help shape or otherwise influence recommended compliance practices for many participants in the private fund industry with offshore operations or investments;
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A review of recently enacted rule changes (including the new Form ADV requirements), proposed rules, and prospective rulemaking initiatives impacting private funds and their advisers;
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An analysis of the current state of insider trading law as the U.S. Supreme Court prepares to issue a decision in Salman v. United States, the Court's first ruling in the area of insider trading in nearly 20 years; and
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A comprehensive overview of required regulatory filings across the many agencies overseeing the private funds industry, including a quick reference table for monthly filings in 2017.
New Proskauer Private Funds Report Reviews Key Market Developments of 2016 and Looks Ahead to 2016
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