On August 23, the SEC adopted its long-awaited final rule regarding Private Fund Advisers, continuing the SEC’s trend of focusing on the private fund industry and ushering in an era of yet more regulatory and compliance burdens for advisers to private funds. Attorneys from Paul Hastings’ Investment Funds and Private Capital group, along with special guest Igor Rozenblit, founder of Iron Road Partners and former Co-Head of the SEC’s Private Funds Unit, analyzed the new rule, including:

• Which portions of the SEC’s proposal did (and did not) make it into the final rule;

• Potential pitfalls, areas of ambiguity and challenges;

• How the industry may to respond to the new regulations; and

• What you should be doing now to prepare.