SEC and CFTC Adopt Final Rules Requiring Registered Advisers to Private Funds to File New Form PF

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November 2011 - The SEC and the CFTC adopted final rules as mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act to require registered advisers to report on new Form PF information concerning the private funds they advise.

In October 2011, the SEC and the CFTC adopted final rules as mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act to require registered advisers to report on new Form PF information concerning the private funds they advise. Focused on private funds’ basic operations and strategies, the information reported on Form PF will aid the SEC, the CFTC, and the FSOC in their assessment of systemic risk.

While the final rules on Form PF were anticipated, they are complex, and will have significant operational impact on registered advisers to private funds. This A Closer Lookdescribes the final rules requiring new Form PF and their impact.

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