SEC Proposes to Enhance Private Fund Reporting

The Securities and Exchange Commission today voted to propose amendments to Form PF, the confidential reporting form for certain SEC-registered investment advisers to private funds. The amendments, which the Commodity Futures Trading Commission (CFTC) is concurrently considering to propose jointly with the SEC, 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. “In the decade since the SEC and CFTC jointly adopted Form PF, regulators have gained vital insight with respect to private funds.