Proskauer has released the 2015 Proskauer Annual Review and Outlook for Hedge, Private Equity and Other Private Funds. The 88-page report is a summary of significant legal changes and developments in the private funds space during 2015, as well as a source of recommended practices for investment advisers to consider as they prepare for 2016.

The report covers extensive ground. It discusses developments concerning the Securities and Exchange Commission in a number of areas, notably examinations, enforcement and whistleblowing. Among its many sections are those focusing on cybersecurity, taxation, employment law — including the classification of unpaid interns, which generated groundbreaking court decisions in 2015 — and regulatory updates specific to the European Union, the UK, China and Hong Kong.

In addition to the overall review and outlook, the report includes a robust compliance review and description of 2016 filing requirements in numerous areas.