As the number of new investment advisers and investment companies continues to increase, the duties of the Office of Compliance Inspections and Enforcement (OCIE) – the “eyes and ears” of the SEC – grows more complex. While deploying additional resources to examine hedge fund managers and other investment advisers, OCIE must prioritize and focus on select areas. OCIE’s current initiatives and priorities were discussed during a recent day-long seminar hosted by the SEC as part of its Compliance Outreach Program. Participating in the seminar were senior personnel from the Division of Enforcement (Enforcement), Division of Investment Management (IM) and OCIE. Opening with remarks by SEC Chair Mary Jo White, the program was hosted by Andrew Ceresney, Director of Enforcement; David Grim, Director of IM; and Marc Wyatt, Director of OCIE. This two-part series highlights the key insights from those presentations. This first part discusses SEC initiatives, including the Compliance Outreach Program itself, and also explores OCIE’s characteristics, current campaigns and examination priorities. The second part will examine the priorities and operations of each of Enforcement and IM. For more on OCIE, see “OCIE Outlines Examination Priorities for 2016” (Jan. 14, 2016); “SEC’s Rozenblit and Law Firm Partners Explain the SEC’s Enforcement Priorities and Offer Tips on How Hedge Fund and Private Equity Managers Can Avoid Enforcement Action (Part Three of Four)” (Jan. 15, 2015); and “OCIE Director Andrew Bowden Identifies the Top Three Deficiencies Found in Hedge Fund Manager Presence Exams and Outlines OCIE’s Examination Priorities” (Oct. 10, 2014).