Regulators see private class actions, including those promoted by third-party litigation funders’ funded actions, as a key part of the regulatory enforcement environment and for consumer compensation in the securities and financial product areas. With regulator budgetary constraints, they cannot pursue every case, and many see their role more as one of deterrent and punishment, and not compensation if there is a viable active private compensation mechanism. There are a variety of issues and tensions arising as a result, including access to regulators’ investigation materials, the timing of compensation actions, immunities available and levels of cooperation. This topic will explore such issues and hear from key regulators involved in these areas.