There has been a great deal of uncertainty concerning the direction of financial industry regulation. To address this unease, a recent MyComplianceOffice (MCO) presentation – hosted by Joseph Boyhan of MCO and featuring Shearman & Sterling partner Russell D. Sacks and counsel Jennifer D. Morton – offered insight into the status of pending legislation, tax reforms, the fiduciary rule and regulatory priorities. This article examines the points from the presentation that are most relevant to private fund managers. For coverage of another MCO overview of SEC and FINRA enforcement updates, see “What the Record Number of 2016 SEC and FINRA Enforcement Actions Indicates About the Regulators’ Possible Enforcement Focus for 2017” (Dec. 15, 2016). For additional insights from Sacks, see “How Can Hedge Fund Managers Structure Their In-House Marketing Activities to Avoid a Broker Registration Requirement?”: Part One (Sep. 12, 2013); Part Two (Sep. 19, 2013); and Part Three (Sep. 26, 2013).