Amendments to SEC Form PF

The SEC adopted amendments to Form PF, the confidential reporting form for certain SEC-registered investment advisers to private funds. Under the amendments, large hedge fund advisers and all private equity fund advisers would be required to file current reports upon the occurrence of certain reporting events that may indicate significant stress at a fund or investor harm. The amendments would also require large private equity fund advisers to annually report information on general partner and limited partner clawbacks as well as additional information on their strategies and borrowings.

The amendments for current reporting will become effective six months after publication of the adopting release in the Federal Register, and the remaining amendments will become effective one year after publication in the Federal Register.