With the SEC issuing a steady stream of statements promising enhanced scrutiny and new regulations, compliance professionals at private funds are scrambling to keep up. In addition to the Commission’s sharpened focus on environmental, social and governance investing, market trends have also created new versions of familiar conflicts that compliance teams must address, even as a continued remote work environment for many firms forces compliance professionals to go above and beyond to oversee employees. Those and other issues were addressed in a recent Practising Law Institute panel moderated by Gibson Dunn partner Mark K. Schonfeld, which featured Eric M. Albert, CCO and legal counsel at Holocene Advisors, LP; Kenneth J. Burke, head of compliance and senior counsel at Vista Credit Partners Management, LLC; and Igor Rozenblit, founder and partner at Iron Road Partners and former Co‑Head of the SEC’s Private Funds Unit. This article summarizes key takeaways from the discussion. For additional commentary from Rozenblit, see our two-part series: “Former Co‑Head of SEC Private Funds Unit Describes His New Consulting Firm and the Regulator’s Stance on ESG
” (Jul. 20, 2021); and “Former Co‑Head of SEC Private Funds Unit Details Common PE Compliance Deficiencies and Steps to Avoid SEC Scrutiny
” (Jul. 27, 2021).