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ARTICLE · 19 MARCH 2024

SEC And CFTC Adopt Substantial Amendments To Form PF

Willkie Farr & Gallagher
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The Securities and Exchange Commission (the "SEC") and the Commodity Futures Trading Commission (the "CFTC," and together with the SEC, the "Commissions")...

United StatesFinance and Banking
Gabriel Acri
Gabriel Acri
Benjamin B. Allensworth
Benjamin B. Allensworth
Anne C. Choe
Anne C. Choe
John Rupp
John Rupp

The Securities and Exchange Commission (the "SEC") and the Commodity Futures Trading Commission (the "CFTC," and together with the SEC, the "Commissions") recently voted to jointly adopt amendments to Form PF (the "Amendments"). The Amendments significantly increase the amount of information required to be included on Form PF and limit the flexibility in responding to a number of questions on the form.1 The Amendments represent the latest increase in the regulatory burdens placed on private fund advisers. In particular, many Form PF filers just recently implemented, on December 11, 2023, compliance with the SEC's amendments to Form PF for large hedge fund advisers and advisers to private equity funds to promptly report certain events.2

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