Regulatory Alerts2022-08-10
Amendments to Form PF Reporting Requirements for All Filers and Large Hedge Fund Advisers
The Commodity Futures Trading Commission and Securities and Exchange Commission jointly propose amendments to Form PF that revise reporting requirements for all private fund advisers and large hedge fund advisers. The updated rules enhance the Financial Stability Oversight Council’s systemic risk monitoring and strengthen SEC investor protection by improving data quality, clarifying master-feeder and parallel fund reporting, updating timelines, and streamlining hardship exemptions. Applicable to advisers managing at least $150 million in private fund assets, the amendments refine Section 1 disclosures for all filers and expand Section 2 data collection for qualifying hedge funds to better capture evolving strategies like digital assets and credit exposures.