SEC and CFTC Propose New Forms to Gather Data on Systemic Risk Potentially Presented by Private Funds

As directed by the Dodd-Frank Act, the Securities and Exchange Commission and the Commodity Futures Trading Commission on January 26, 2011 jointly proposed new Form PF, which they would use to gather information aimed at evaluating the degree of “systemic risk” presented by certain types of private funds whose managers were either registered with the SEC or jointly registered with the SEC and the CFTC. On the same day, the CFTC also proposed new Form CPO-PQR and Form CTA-PR, which would solicit from commodity pool operators and commodity trading advisors that are registered with the CFTC, but not the SEC, information generally identical to that sought through Form PF. Proposed Form PF encompasses over 60 categories of questions and would collect from private fund managers information unprecedented in its scope and detail.

Read the full alert here.


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