Former SEC Senior Counsel Offers Insight on SEC Enforcement Focus and Priorities

Jamie Lynn Walter recently joined Kirkland & Ellis in Washington, D.C., to help build the office’s investment funds group. Walter last served as a Senior Counsel in the Private Funds Branch of the Division of Investment Management at the SEC, where she provided legal advice and guidance on a wide range of matters involving the regulation of investment advisers and investment funds, including private funds, mutual funds and exchange-traded funds. She made significant contributions to several agency rules and was integral in developing the SEC’s December 2015 proposed rule entitled “Use of Derivatives by Registered Investment Companies and Business Development Companies.” In connection with her joining Kirkland & Ellis, the Hedge Fund Law Report recently interviewed Walter about several topics important to hedge fund managers. This article sets forth Walter’s thoughts on the current regulatory landscape, including current areas of SEC focus; the interaction between the Commission and fund advisers; patterns in SEC enforcement; and regulatory priorities. For additional insight from Kirkland & Ellis attorneys, see “Portability and Protection of Hedge Fund Investment Track Records” (Nov. 10, 2011); and our two-part series on remote SEC examinations: “What Hedge Fund Managers Can Expect” (May 12, 2016); and “How Hedge Fund Managers Can Prepare” (May 19, 2016).

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