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What are the fees associated with filing Form PF?

November 02, 2018

Filing fees are charged by FINRA to use the IARD system. The filing fees for SEC-registered investment advisers filing Form PF using the IARD system are $150 for each annual report and $150 for each quarterly report. Where can I find more information on Form PF? Additional information regarding Form PF can be found on […]

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How do you file Form PF?

November 02, 2018

Form PF must be filed electronically through the Form PF filing system on the Investment Adviser Registration Depository (IARD) website.

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What are the compliance dates for Form PF?

November 02, 2018

For currently registered investment advisers and firms that register as investment advisers in 2012, Form PF has a two-stage period for filing. For Advisers with at least $5 billion in assets under management attributable to hedge funds, at least $5 billion in combined assets under management attributable to liquidity funds and registered money market funds, […]

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When does Form PF have to be updated?

November 02, 2018

“Small” and “large” private equity fund advisers must file Form PF annually within 120 days after the end of their fiscal year. They must respond to questions focusing primarily on the extent of leverage incurred by their funds’ portfolio companies, the use of bridge financing, and their funds’ investments in financial institutions. Large hedge fund […]

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What is the difference between a “small” and a “large” private fund adviser?

November 02, 2018

Advisers that have at least $150 million in private fund assets under management but that do not exceed a “large adviser” threshold must file Form PF only once a year. These “small” private fund advisers are required to fill out basic information on the private funds they advise. This includes limited information regarding size, leverage, […]

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Who is required to file Form PF?

November 02, 2018

Investment advisers must file a Form PF if registered or required to register with the SEC as an investment adviser; or if registered or required to register with the U.S. Commodity Future Trading Commission (CFTC) as a CPO or CTA and also registered or required to register with the SEC as an investment adviser; and […]

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What is the purpose of Form PF?

November 02, 2018

Form PF was adopted by the SEC following the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”). “The Dodd-Frank Act amended section 204(b) of the Investment Advisers Act of 1940 (“Advisers Act of 1940″) to require the SEC to establish reporting and recordkeeping requirements for advisers to private funds.” The […]

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