Igor Rozenblit, co-leader of the Private Funds Unit (PFU) of the SEC Office of Compliance Inspections and Examinations, recently delivered the keynote address at Practising Law Institute’s Hedge Fund Management 2015 program, in which he discussed the PFU and offered valuable insight into its operations and priorities.  In a subsequent segment of that program, he and Scott Weisman, a PwC managing director and former assistant director of the SEC Division of Enforcement, delved further into the operations and concerns of the PFU.  Nora M. Jordan, a partner at Davis Polk, moderated the programs.  This article summarizes the key takeaways from Rozenblit’s remarks.  For additional commentary from Rozenblit, see “SEC’s Rozenblit and Law Firm Partners Explain the SEC’s Enforcement Priorities and Offer Tips on How Hedge Fund and Private Equity Managers Can Avoid Enforcement Actions (Part Three of Four),” Hedge Fund Law Report, Vol. 8, No. 2 (Jan. 15, 2015).