SEC Adopts Amendments to Enhance Private Fund Reporting

The Securities and Exchange Commission today adopted amendments to Form PF, the confidential reporting form for certain SEC-registered investment advisers to private funds. The amendments are designed to enhance the ability of the Financial Stability Oversight Council (FSOC) to assess systemic risk and to bolster the Commission’s oversight of private fund advisers and its investor protection efforts. “In the 12 years since the Commission first adopted Form PF, private funds have evolved significantly in their business practices, complexity, and investment strategies,” said SEC Chair Gary Gensler. “Private funds today are ever more interconnected with our broader capital markets. They also nearly have tripled in size in the last decade.