On January 13, 2010, the Enforcement Division of the Securities and Exchange Commission announced the appointment of the newest members of its national leadership team as the Division undertakes its most significant reorganization since its establishment in 1972. The Division named leaders of units it has established in five priority areas dedicated to specialized and complex areas of securities law. One of those new units is an asset management unit that will cover, among other things, hedge funds. See “For Hedge Funds and Their Managers, the SEC’s New Enforcement Initiatives May Increase the Likelihood, Speed and Vigor of Inspections and Examinations,” Hedge Fund Law Report, Vol. 2, No. 33 (Aug. 19, 2009). The Division also has created a new Office of Market Intelligence that is responsible for the collection, analysis, and monitoring of the hundreds of thousands of tips, complaints and referrals that the SEC receives each year.