Last week, key members of the SEC’s staff reinforced their expectation that CCOs and other gatekeepers should help the SEC with its core mission of protecting investors, promoting fair, orderly and efficient markets and facilitating capital formation. Based on the presentation materials from the national Compliance Outreach Program for Investment Advisers and Investment Company Senior Officers, it appears that the staff presented a program that included something for everyone.  The topics ran the gamut from presence exams to key regulatory concerns in the hedge fund and private fund space to registered funds’ payments for distribution in guise and valuation issues.  The presentation topics track nicely with OCIE’s recently announced 2014 National Exam Program priorities (see our related client alert) and the increasingly integrated approach of the Commissioners and the staff across various SEC divisions, as set forth in the SEC’s 2013 Agency Financial Report.