Are You Ready for the New Reporting Requirements for Private Fund Advisers?

The Securities and Exchange Commission (SEC), jointly with the Commodity Futures Trading Commission, recently adopted new rules that will require certain advisers to private funds to periodically file reports on new Form PF. The new rules implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act). The information collected on Form PF will generally be kept confidential and used primarily by the Financial Stability Oversight Council to monitor and assess systemic risk in the US financial system.

This alert discusses the new Form PF reporting requirements and what you should do to prepare for them.