CFTC and SEC Propose Private Fund Systemic Risk Reporting Rules

March 02, 2011
The CFTC and SEC have jointly proposed new rules that would require systemic risk reporting by registered investment advisers to private funds, as well as dually-registered commodity pool operators and commodity trading advisors. The information would be filed electronically with the SEC on a new Form PF, for use by the Financial Stability Oversight Council in monitoring systemic risk to the U.S. financial system. Form PF would require reporting of a wealth of information previously undisclosed to regulators relating to private funds. This update examines who would be required to file Form PF, the disclosure requirements of the Form and the impact on the reporting advisers.