• SEC and CFTC Jointly Adopt Form PF
  • November 15, 2011
  • Law Firm: Haynes Boone LLP - Dallas Office
  • The Securities and Exchange Commission (the “SEC”) and the Commodity Futures Trading Commission (the “CFTC”) recently adopted new rules (the “Rules”) under the Investment Advisers Act of 1940 (the “Advisers Act”), and the Commodity Exchange Act (the “CEA”) that will require registered investment advisers with at least $150 million in private fund assets under management to file Form PF with the SEC. Form PF is designed to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), and the information gathered by the form is primarily intended for use by the Financial Stability Oversight Council (the “FSOC”) in assessing systemic risks posed to the U.S. financial system. While the information reported on Form PF generally will remain confidential, the SEC and the CFTC will be permitted to use Form PF information in examinations, investigations and enforcement actions.