Saying that 2023 was a big year for SEC rulemaking may be a little bit of an understatement given the number of proposed and final rules the SEC put out – many of which directly or indirectly impact private funds. In many respects, the burden of understanding this rulemaking and ensuring compliance with the many new requirements has fallen on the shoulders of fund managers’ CCOs and compliance departments. And, given that more new and/or amended rules are expected in 2024, that burden is likely to increase. To better understand the impact of the SEC’s aggressive rulemaking on compliance professionals, the Hedge Fund Law Report spoke to Todd Kaplan, founder and principal of Cloudbreak Compliance Group. This article presents Kaplan’s thoughts on recent SEC examinations, including a new interest in artificial intelligence; the lack of SEC guidance; the impact of new rulemaking on both CCOs and compliance consultants; what the compliance landscape may look like in 2024; and what fund managers and CCOs should do to prepare for challenges in the new year. For additional insights from Kaplan, see our two-part series on conflicts of interest questionnaires: “Why Fund Managers Need Them, and What They Should Cover” (Dec. 6, 2018); and “Who Should Complete Them, When They Should Be Completed and How Managers Can Use Them Effectively” (Dec. 13, 2018).