SEC Amends Form PF to Require Event Reporting

The SEC has issued a final rule to amend Form PF, the data from which the Commission and the Financial Stability Oversight Council use in their oversight and risk monitoring of private fund investment advisers. The amendments will require advisers to large hedge funds and private equity funds “to file a current report” in situations in which events “indicate significant stress at a fund that could harm investors or signal risk in the broader financial system.” Such events “include extraordinary investment losses, certain margin events, counterparty defaults, material changes in prime broker relationships, operations events, and certain events associated with redemptions.”

For more information, see the press release and fact sheet, as well as the statements by SEC Chair Gary Gensler and Commissioners Caroline Crenshaw, Jaime Lizárraga, Hester Peirce, and Mark Uyeda, on the SEC’s Web site.