At the start of 2022, the US Securities and Exchange Commission (SEC) proposed amendments to Form PF that would require large hedge fund advisers and all private equity (PE) advisers to file a report within one business day of certain stress events. Eight months later, the SEC, in conjunction with the US Commodity Futures Trading Commission (CFTC), proposed a second set of amendments. Comments to the proposal are due October 11, 2022.
Although the proposal is largely directed at the hedge fund industry, certain facets apply to the PE industry and warrant consideration from sponsors. In an article by Private Equity Law Report, partner Christine Lombardo provides an overview, goals, and rationale for the amendments to Form PF and the views of the SEC and CFTC Commissioners.
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