Release Number 8861-24

CFTC Approves a Joint Final Rule to Amend Form PF Regarding Reporting Requirements for All Filers and Large Hedge Fund Advisers

February 08, 2024

— The Commodity Futures Trading Commission today announced it has approved a final rule that amends Form PF concurrently with the Securities and Exchange Commission (SEC) as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Form PF is the confidential reporting form for certain investment advisers to private funds that are registered with the SEC, including those also registered with the CFTC. Additionally, the CFTC and SEC have agreed to a memorandum of understanding related to the sharing of Form PF data between the Commissions.

The amendments to Form PF are designed to enhance the Financial Stability Oversight Council’s ability to monitor systemic risk, as well as to bolster the regulatory oversight of private fund advisers and investor protection efforts.

The final rule includes:

(1) Amendments to the General Instructions: These include changes to Form PF’s instructions on reporting (a) master-feeder arrangements and parallel fund structures; (b) private funds that invest in other funds; and (c) timelines.

(2) Amendments Concerning Basic Information about the Adviser and the Private Funds it Advises: These include changes to Form PF’s questions collecting Identifying Information in Section 1a, Information Concerning All Private Funds in Section 1b, and Information Concerning All Hedge Funds in Section 1c.

(3) Amendments Concerning Information about Hedge Funds Advised by Large Private Fund Advisers; and

(4) Other Amendments to Enhance Data Quality.

The effective/compliance date for the Form PF final rule is one year from the date of publication in the Federal Register.

For more information on the Form PF final rule, see the Fact Sheet at Form PF Fact Sheet