A recent program presented by BakerHostetler provided timely insight on how the SEC and its enforcement priorities may evolve under the new president’s regulatory agenda, as well as how the new administration may affect the markets in general and private funds in particular. For another look at Trump’s potential effect on the fund industry, see “Ways the Trump Administration’s Policies May Affect Private Fund Advisers” (Mar. 2, 2017). Mark A. Kornfeld, partner at BakerHostetler, moderated the discussion, which featured former SEC Commissioner Troy A. Paredes, founder of Paredes Strategies LLC; Marie Noble, partner, general counsel and chief compliance officer at SkyBridge Capital; and BakerHostetler senior adviser Hon. Michael A. Ferguson and partner Marc D. Powers. This article summarizes the portions of the presentation most relevant to hedge fund managers. See our two-part series on an earlier BakerHostetler conference for additional commentary from Kornfeld and Powers: “Shifts in Enforcement Policies and Tactics As Industry Anticipates New Administration and SEC Chair” (Jan. 5, 2017); and “SEC Use of Administrative Proceedings and Whistleblower Incentives, and Guidance for Fund Managers Facing an Examination” (Jan. 19, 2017).