It is all too easy and common to lose sight of the forest in favor of the trees, and that is no different when it comes to monitoring regulatory developments. Although most fund managers strive to stay attuned to issues in their local jurisdictions, many fail to simultaneously monitor trends in other jurisdictions. Given that regulators often seek to copy the gold-plated practices of other jurisdictions, that lack of awareness could potentially catch managers on their heels. To that end, Clifford Chance recently hosted a webinar on regulatory enforcement around the world in 2021. The program was moderated by Clifford Chance partner Dorian Drew and featured fellow attorneys Celeste Koeleveld, Donna Wacker, Kabir Singh, Antonio Golino, Ellen Lake and Benjamin Berringer. This first article in a two-part series evaluates the general regulatory trends in each panelist’s respective home jurisdiction. The second article will drill down on anti-money laundering; fees and expenses; conflicts of interest; and operational resiliency measures adopted in each jurisdiction. For commentary from other Clifford Chance partners, see “Chasing Waterfalls: Analysis and Market Response to ILPA’s Deal‑by‑Deal Waterfall Model LPA (Part One of Two)” (Sep. 15, 2020); and “SEC Fines PE Sponsor for Passing Operating Partner Expenses Through to Investors Without Adequate Disclosure” (Jun. 9, 2020).