On January 27, 2010, the Practising Law Institute hosted the Institutional Investor Forum 2010 in New York City.  Among the key topics discussed during the conference were: fiduciary duty and the duties of good faith and fair dealing under Delaware law; exculpation and indemnification concerns in the context of Delaware limited partnerships and limited liability companies; various proposed and current federal and state regulations of hedge fund managers and placement agents; SEC staffing and budgeting; the SEC’s subpoena power when conducting examinations; hybrid fund structures and terms; managed accounts and managed account platforms; and what fraud prevention practices investors look for in hedge fund adviser Codes of Ethics.  This article offers a comprehensive summary of the key points raised and discussed at the conference.