This twenty-third installment of the Hedge Fund Law Report’s quarterly compliance update, authored by ACA Group consultants Valerie Speare, Grazia Gatti and Dan Campbell, highlights upcoming filing deadlines and reporting requirements that fund managers should be aware of during the first quarter of 2023. This article also discusses some key takeaways from the SEC’s Investment Adviser/Investment Company National Seminar: Compliance Outreach Program and how hedge fund managers can respond to the SEC’s recent examination and enforcement attention surrounding “off-channel” electronic communications. For discussion of the DOJ’s focus on electronic communications on personal devices, see “Deputy AG Announces Changes to DOJ Corporate Criminal Enforcement Policies, Stressing Individual Accountability” (Nov. 10, 2022).