The SEC recently published its Spring Reg Flex Agenda for 2019, continuing the trend – advocated by Chair Jay Clayton – toward more “tailored yet ambitious” agendas. This article reviews the various components of the latest Reg Flex agenda and highlights the key takeaways for private fund managers. For coverage of the Autumn Reg Flex Agenda for 2017, see “SEC’s Reg Flex Agenda Promotes Transparency While Adding Potential Compliance Burdens” (Mar. 15, 2018).