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SEC and CFTC Propose Reporting Changes for Hedge Funds and Other Investment Advisers to Private Funds

Updates to Form PF were designed to assess systemic risk and bolster regulatory oversight in the growing hedge fund industry. Find out more.
3 minute read
August 17, 2022

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have jointly proposed amendments to Form PF, the confidential reporting form for certain SEC-registered investment advisers to private funds. If adopted, these changes increase the reporting of fund exposure, strategies, and fund information, and may change the structure, data, and information needed by your firm to meet this reporting obligation.

According to the SEC’s news release, the amendments “are designed to enhance the Financial Stability Oversight Council’s (FSOC) ability to assess systemic risk as well as to bolster the SEC’s regulatory oversight of private fund advisers and its investor protection efforts in light of the growth of the private fund industry.”

According to the SEC’s fact sheet, the proposed changes to Form PF would:

The proposal will be published on and in the Federal Register. The public comment period will remain open for 60 days after the date of issuance and publication on or 30 days after publication in the Federal Register, whichever period is longer. For information about the proposed changes to Form PF, contact us. We are here to help.