Avoiding Regulatory Trouble

Featured Guests

Dustin Littrell

Counsel, Alston & Bird

With a distinguished track record in structuring and managing complex investment vehicles—including credit, private equity, real estate, and hybrid funds—Dustin Littrell is a recognized leader in financial product innovation and compliance for alternative assets. At Alston & Bird, he counsels clients on fund formation and ongoing operations, masterfully navigating regulatory, commercial, and cross-border challenges from launch to maturity. His extensive exposure to top-tier institutional clients and hands-on insight into SEC priorities position him as a trusted problem-solver for investment managers adapting to shifting regulatory tides.

Dr. David E. McClean

Principal, DMA Consulting Group; Senior Lecturer, Rutgers University

As founder of DMA Consulting Group since 1992, Dr. McClean is a venerated enterprise risk and compliance leader whose clients span asset managers, hedge funds, mutual funds, broker-dealers, and private equity. He brings a unique blend of regulatory acumen and practical philosophy, authoring seminal books on financial ethics and serving on boards from Wall Street to global not-for-profits. A frequent advisor to Fortune 1000s, Dr. McClean is also a lauded educator at Rutgers and an influential voice advancing compliance culture and organizational ethics in global finance..

​​Robert Akeson

Managing Director Investment Banking at Riverside Management Group

A seasoned financial executive with decades of leadership experience in global brokerage, prime brokerage, and capital placement, Robert Akeson leads the investment banking and financial advisory team at Riverside Management Group. With deep expertise in compliance, operations, capital markets, and risk management, Robert has guided firms through regulatory shifts and growth across multiple asset classes. His background includes executive roles at Mirae Asset Securities (USA), Neuberger Berman, Morgan Stanley, and advisory board and general partner experience with several investment funds. As a frequent industry speaker and committee chair for the CFA Society New York, Robert is recognized for his sophisticated knowledge of market liquidity, firm management, and due diligence practices in alternative investments.

Key Insights From This Episode

Modernization of the Marketing Rule

The SEC’s sweeping updates to the marketing rule mean nearly every communication—across digital, social, and traditional channels—faces new disclosure, substantiation, and performance reporting standards. Advisors must rethink not just what they share, but how and where.

Clarity & Confusion on “Dealer” Definitions

Redefining “dealer” now puts some buy-side firms at unexpected compliance risk, especially with ambiguous frequency thresholds. Fund leaders are urged to proactively assess their trading patterns before rule changes take effect.

Record Retention: A High-Stakes Imperative

After significant fines to industry giants, robust recordkeeping for all business communications—not just emails—is mission-critical. Use of unapproved chat or SMS tools can prove disastrous; timely policy reminders and easy capture solutions are key.

Rising Impact of ESG in Compliance

Environmental, social, and governance mandates are evolving quickly, and greenwashing or inadequate disclosures can trigger scrutiny. Understanding emerging standards is essential for both fund structuring and investor communications.

Pragmatic Compliance Culture Wins

Truly effective compliance systems decentralize responsibility, streamline internal communication, and avoid unwieldy policy manuals. Both insider reporting templates and clear leadership messaging set the tone for resilience—and reduce regulator friction.

Future Gazing: New SEC Rules on the Horizon

Proposed regulations around private funds, quarterly transparency, and anti-preferential treatment are expected to reshape practice yet again. Staying plugged into updates and regularly reviewing firm protocols ensures forward compatibility.