Seminar  Seminar

Hedge Fund and Private Equity Enforcement & Regulatory Developments 2013

Why you should attend

The government’s continued crackdown on insider trading has focused on hedge funds, their consultants and those who analyze and trade for them. Regulators and enforcement officials have now turned their sights to conflicts of interest, valuation, cross-trades, expense and trade allocation, and fee practices. Following new registration requirements under Dodd-Frank, private equity firms are under examination scrutiny by the SEC, and according to senior regulatory officials, the number of enforcement investigations and cases involving them are likely to increase. At the same time, new CFTC rules under Dodd-Frank abound, and with the agency’s expanded regulatory role and invigorated enforcement department, there are more cases than before affecting a wider range of conduct. With all of this in mind, the role of compliance has never been more important, and private funds are employing new strategies to meet those challenges and risks.

What you will learn

Attend this program to gain expert insights into current and anticipated enforcement, regulatory, legislative and compliance priorities. Our experts, including many from the government, will also analyze and discuss the effects these priorities have and will have on hedge fund managers and their advisers, and provide practical guidance regarding effective compliance strategies going forward.  Topics to be addressed will include:

  • Current SEC, CFTC and other regulatory hedge fund and private equity enforcement and examination priorities
  • The risks inherent in using expert research networks and the red flags government investigators look for with respect to advisers that use them
  • Identifying and managing conflicts of interest inherent from managing different clients, investors and products under the same private fund umbrella
  • How to prepare for an SEC private fund examination and what the examiners will expect and ask for when they walk through the door
  • The best methods for constructing effective compliance programs to prioritize and guard against regulatory risk
  • Legislative and regulatory developments affecting hedge and private equity funds

Special Feature

  • Earn one hour of Ethics credit as our experts offer practical guidance on a series of real-world hypotheticals

Who should attend

Attorneys, hedge fund and private equity counsel, and compliance professionals interested in or currently working in the hedge fund industry will benefit from this program.

9:00 Opening Remarks and Introduction
Speakers: Barry R. Goldsmith

9:15 Current Hedge Fund and Private Equity Fund Enforcement Priorities - The Enforcers' Perspective
  • SEC enforcement priorities and trends
  • CFTC enforcement concerns and cases
    The New York Attorney General
  • Office’s “Insider Trading 2.0” initiative
  • The defense perspective -- strategies for avoiding and surviving a government investigation
Speakers: Stephen L. Cohen, Chad Johnson, Colleen P. Mahoney, Manal Sultan

10:15 SEC Inspections and Examinations of Hedge Funds and Private Equity Firms
  • 2014 SEC investment adviser examination priorities
  • SEC Compliance Initiative and minor lapses – how best to prepare yourself in an exam
  • Examinations of “quant funds
  • Expense allocation, valuation and allocation of investment opportunity
Speakers: Lindi Beaudreault, Robert B. Kaplan, Igor Rozenblit, John H. Walsh

11:15 Networking Break

11:30 Hot Regulatory Issues for Private Funds
  • The JOBS Act and Bad Actor provisions—pending SEC proposals
  • Impact of CFTC regulations on use of general solicitation for CPOs
  •  Recent SEC enforcement cases -- custody rule
  • NFA bylaw 1101 --- doing business with non-members
  • Recent SEC sweep on rule 195 – lessons going forward
Speakers: James A. Brigagliano, Stuart J. Kaswell, Rita M. Molesworth, Tram N. Nguyen, Amanda Olear

12:30 Lunch Break

1:45 Government Investigative Techniques and Strategies Focused on Hedge Funds
  • How the government proves cases against hedge fund professionals
  • FINRA’s insider trading surveillance and investigative techniques
  • Political intelligence groups – the next wave of cases?
  • Leveraging regulatory intelligence and coordination with prosecutors
  • When do you charge the entity and when just the  individual?
Speakers: Cameron Funkhouser, Richard Tarlowe, Avi Weitzman

2:45 Establishing a Practical and Effective Compliance Program
  • Regulators’ changing views towards compliance officers
  • Good policies and procedures are no longer enough – how to ensure the requisite “tone from the top”
  • Pulling in the same direction – it takes more than the compliance department
  • Personal trading policies and procedures – what works?
  • How to judge the effectiveness of your compliance program – what are the indicators?
Speakers: Scott Black, Marcy Engel, Dixie L. Johnson, Kahyeong Lee

3:45 Networking Break

4:00 Thorny Hedge Fund Hypotheticals - Ethical Issues
  • Multiple representation issues in regulatory Investigations -- ethical considerations
  • Insider trading -- it isn’t as simple as it once seemed
  • The role of compliance in self-reporting violations and examinations
  • Trade allocation issues among multiple funds and multiple investment opportunities
  • Valuation issues and conflicts of interest


Speakers: Susan E. Brune, Stephen J. Crimmins, Andrew B. David, Joan E. McKown, Andre E. Owens

Program Attorney(s)
Danielle B. Cohen ~ Program Attorney, Practising Law Institute
New York City Seminar Location

PLI New York Center, 810 Seventh Avenue at 53rd Street (21st floor), New York, New York 10019. Message Center, program days only: (212) 824-5733.

New York City Hotel Accommodations

The New York Hilton & Towers, 1335 Avenue of the Americas, New York, NY 10019. 1 block from PLI Center. Reservations 1-800-HILTONS or, 1-877-NYC-HILT. Please mention that you are booking a room under the Practising Law Institute Corporate rate and the Client File # is 0495741. You can also make reservations online to access Practising Law Institute rates.

The Warwick New York Hotel, 65 West 54th Street New York, NY 10019. 1 block from PLI Center. Reservations 800-223-4099 or, hotel direct 212-247-2700. Please mention that you are booking a room under the Practising Law Institute Corporate rate. Reservations on line at Click reservations in menu bar on left. Select desired dates. In 'Special Rates' drop down window select Corporate Rate. In 'Rate Code' enter PLIN. Click search and select desired room type and rate plan. Or, you may email reservation requests to:

Sheraton New York Times Square Hotel, 811 7th Avenue, New York, NY 10019, 1-800-325-3535 or (212) 581-1000. When calling, please mention Practising Law Institute and mention SET#311155. You may also book online.

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Special Note: In New York, newly admitted attorneys may receive CLE credit only for attendance at "transitional" programs during their first two years of admission to the Bar. Non-traditional course formats such as on-demand web programs or recorded items, are not acceptable for CLE credit. Experienced attorneys may choose to attend and receive CLE credit for either a transitional course or for one geared to experienced attorneys.  All product types, including on-demand web programs and recorded items, are approved for experienced attorneys.

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If you have already received credit for attending some or the entire program, please be aware that state administrators do not permit you to accrue additional credit for repeat viewing even if an additional credit certificate is subsequently issued.

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Item# 42599
Location:  New York, NY
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Seminar attendance includes course handbook and associated course materials. A downloadable course handbook will also be available several days prior to the program start for your review.