SEC adopts amendments to enhance private fund reporting, including those also registered with the CFTC. The amendments enhance how large hedge fund advisers report investment exposures, borrowing, and counterparty exposure, among other aspects.

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Source: www.sec.gov/files/rules/final/2024/ia-6546.pdf

TLDRS
  • SEC adopts amendments to enhance private fund reporting including those also registered with the CFTC.

  • The amendments to Form PF will enhance reporting by large hedge fund advisers on various aspects such as investment exposures, borrowing, counterparty exposure, risk metrics, and investment performance to improve insight into fund operations and strategies, and enhance data quality and comparability.

  • Additional information will be required about advisers and the private funds they manage, including details on assets under management, withdrawal rights, gross and net asset values, inflows and outflows, and fund performance, aimed at providing a deeper understanding of private funds’ operations, assisting in trend identification, and reducing reporting errors.

  • The changes will also demand more detailed reporting on investment strategies, counterparty exposures, and trading and clearing mechanisms, while eliminating redundant questions to offer a clearer view of hedge funds’ operations and strategies, help in trend analysis, and enhance data quality and comparability.

  • Goes into affect 1 year after being published in the Federal Register.

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