A Closer Look at the SEC and CFTC’s Latest Form PF Amendments

Updated on: March 19, 2024

In February 2024, The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) announced significant amendments to Form PF, impacting Private Fund Advisers. These modifications expand the scope of information required, including detailed insights into assets under management, investor transactions, fund performance, and investment strategies. Furthermore, the amendments necessitate separate reporting for master-feeder and parallel fund structures and introduce look-through reporting for trading vehicles.

These new requirements will take effect 12 months after the rule enters into the Federal Register.

For further details on the amendments and access to the official SEC press release and fact sheet, please visit the SEC's website.

Navigating Form PF Changes with Gen II Fund Services

As a leader in fund administration, Gen II Fund Services is dedicated to assisting our clients in navigating these updates. We are committed to adapting our solutions promptly to align with the new technical specifications provided by FINRA. Our team will keep our clients informed about solution enhancements and necessary actions to ensure smooth compliance with the revised reporting requirements.

We understand the importance of these changes and are here to support our clients every step of the way. For additional information or assistance, please contact your Gen II representative.

Form PF compliance requires timely filings, an understanding of complex calculations, and a deep knowledge of fund activities. As a result, firms often outsource to specialists like Gen II Fund Services, which offers a robust, scalable regulatory reporting solution. Gen II's platform provides centralized regulatory reporting across various jurisdictions, designed with modern architecture for scalability, data integrity, security, and compliance. It uses a unified data model to streamline reporting processes, enabling clients to efficiently review, approve, and file reports, reducing risks and improving efficiency.

Gen II Compliance Services for Form PF

Form PF filing for all entities in scope, even those not administered by Gen II

Integrated solution for data identification, aggregation, calculation, verification, and storage

Access to a complete audit trail, storage, and reconciliation of Form PF data

Form PF filing is completed directly on the FINRA site, where clients can review and submit

Published on: February 22, 2024