On January 23, 2013, Bruce Karpati, Chief of the Asset Management Unit (AMU) of the SEC’s Division of Enforcement, delivered a speech at the Private Equity International Conference in New York.  In the course of that speech, Karpati addressed: the AMU’s activity in the private equity space; the likely increase in private equity enforcement activity going forward; the Division of Enforcement’s risk analytics initiatives; AMU’s enforcement priorities; recent enforcement actions; and specific pointers for private equity firm COOs and CFOs for reducing enforcement risk.  This article summarizes key points from Karpati’s speech.