Prepared for distribution at the HEDGE FUND MANAGEMENT 2014 Program New York City and Live Webcast www.pli.edu, September 11 CONTENTS: PROGRAM SCHEDULE... 11 FACULTY BIOS... 17 1., Office of Compliance Inspections and Examinations, National Exam Program, Examination Priorities for 2014 (January 9, 2014)... 33 2., Office of Compliance Inspections and Examinations, Letter to Never Before Examined Investment Advisers (February 20, 2014)... 47 3., Office of Exam Program Risk Alert, Vol. III, Issue 4, Rule 105 of Regulation M: Short Selling in Connection with a Public Offering (September 17, 2013)... 55 4., Office of Exam Program Risk Alert, Vol. IV, Issue 1, Investment Adviser Due Diligence Processes for Selecting Alternative Investments and Their Respective Managers (January 28, 2014)... 71 5
5. Andrew J. Bowden, Director, Office of Compliance Inspections and Examinations, Speech at the Investment Adviser Association Compliance Conference: People Handling Other Peoples Money (March 6, 2014)... 83 6., Office of Exam Program Risk Alert, Vol. III, Issue 1, Significant Deficiencies Involving Adviser Custody and Safety of Client Assets (March 4, 2013)... 93 7., Staff Responses to Questions about the Pay to Play Rule (updated as of July 27, 2012)... 105 8, Office of Exam Program Risk Alert, Vol. IV, Issue 2, OCIE Cybersecurity Initiative (April 15, 2014)... 115 9., Office of Examination Risk Alert, Vol. II, Issue 2, Strengthening Practices for Preventing and Detecting Unauthorized Trading and Similar Activities (February 27, 2012)... 127 6
10. Dodd-Frank Act Changes to Investment Adviser Registration Requirements... 137 11., Investment Management Staff Issues of Interest (Modified April 9, 2013)... 145 12., Deputy Director, U.S. Securities and Exchange Commission, Office of Compliance Inspections and Examinations, Speech at the New York City Bar: What SEC Registration Means for Hedge Fund Advisers (May 11, 2012)... 159 13., Division of Investment Management, Staff of the Investment Adviser Regulation Office, Regulation of Investment Advisers by the (March 2013)... 169 14. SIFMA Guidance on Rule 506(c) Verification (June 23, 2014)... 231 Thomas J. Kim Sidley Austin LLP 15. Prime Brokerage (PowerPoint slides)... 247 Harry Jho Harry Jho LLP 16. Investment Funds... 265 Caroline Williams Walkers 7
17. Regulation of Funds in the Cayman Islands... 275 Caroline Williams Walkers 18., Office of Exam Program Risk Alert, Vol. IV, Issue 1, Investment Adviser Due Diligence Processes for Selecting Alternative Investments and Their Respective Managers (January 28, 2014)... 287 Jessica A. Davis Lodge Hill Capital 19. Dodd-Frank Regulations Affecting Swaps (June 2014)... 299 Susan C. Ervin 20. Davis Polk, Flowcharts: Funds, Substantive Rules, Final Volcker Rule Regulations (January 6, 2014)... 367 21. Davis Polk, Client Newsletter, Investment Management Regulatory Update (December 20, 2013)... 413 22. Davis Polk, Client Memorandum, CFTC Issues Cross-Border Substituted Compliance Determinations, Provides Limited Phase In for Some Swap Requirements (January 7, 2014)... 423 23. Davis Polk, Client Memorandum, CFTC Adopts Final Harmonization Rules for Commodity Pool Operators (September 9, 2013)... 439 8
24. Davis Polk, Client Newsletter, Investment Management Regulatory Update (May 16, 2013)... 453 25. Davis Polk, Client Newsletter, Investment Management Regulatory Update (January 27, 2014)... 463 26. Davis Polk, Client Newsletter, Investment Management Regulatory Update (September 26, 2013)... 473 27. Davis Polk, Client Memorandum, The Impact of the Alternative Investment Fund Managers Directive on Non-E.U. Managers of Non-E.U. Funds (June 4, 2013)... 483 28. Davis Polk, Client Newsflash, SEC Adopts Private Offering Reforms Mandated by JOBS Act (July 10, 2013)... 493 29., From Black Box to Open Book, US Hedge Fund Trust and Transparency... 501 30., Regulatory brief, A publication of s financial services regulatory practice, SEC sweep: Liquid alternative funds (June 2014)... 549 9
31., FS Regulatory Brief, Expense Practices for Private Fund Advisers... 559 32. Compliance and Operational Issues (PowerPoint slides)... 569 33. Jamie Sklar, Schulte Partner Stephanie Breslow Discusses Hedge Fund Liquidity Management Tools in Practising Law Institute Seminar in THE HEDGE FUND LAW REPORT Vol. 5, No. 43 (November 15, 2012)... 595 Stephanie R. Breslow Schulte Roth & Zabel LLP 34. Outline, Managing Hedge Funds in Crisis... 605 Stephanie R. Breslow Schulte Roth & Zabel LLP INDEX... 611 Program Attorney: Danielle B. Cohen 10