Form Pf - Reporting Form For Investment Advisers To Private Funds And Certain Commodity Pool Operators And Commodity Trading Advisors Page 10
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64Form PF: General Instructions
Page 10
for questions 20, 21, 25, 28, and 35, the numerator you use to determine the percentage of
net asset value should be measured on the same basis as gross asset value and may result in
responses that total more than 100%.
16.
How do I amend Form PF, for example, to make a correction?
If you discover that information you filed on Form PF was not accurate at the time of filing, you
may correct the information by re-filing and checking the box in Section 1a indicating that you
are amending a previously submitted filing. You are not required to update information that you
believe in good faith properly responded to Form PF on the date of filing even if that information
is subsequently revised for purposes of your recordkeeping, risk management or investor
reporting (such as estimates that are refined after completion of a subsequent audit).
Large hedge fund advisers and large liquidity fund advisers that comply with their fourth quarter
filing obligations by submitting an initial filing followed by an amendment in accordance with
Instruction 9 will not be viewed as affirming responses regarding one fund solely by providing
updated information regarding another fund at a later date.
17.
How may I preserve on Form PF the anonymity of a private fund that I advise?
If you seek to preserve the anonymity of a private fund that you advise by maintaining its identity
in your books and records in numerical or alphabetical code, or similar designation, pursuant to
rule 204-2(d), you may identify the private fund on Form PF using the same code or designation
in place of the fund’s name.
18.
May I report on Form PF regarding a commodity pool that is not a private fund? How
should I treat the commodity pool for purposes of Form PF?
If you are otherwise required to report on Form PF, you may report information regarding any
commodity pool you advise on Form PF, even if it is not a private fund. Properly reporting on
Form PF regarding the commodity pool will constitute substitute compliance with CFTC
reporting requirements to the extent provided in CEA rule 4.27.
Commodity pools should be treated as hedge funds for purposes of Form PF. If you are reporting
on Form PF regarding a commodity pool that is not a private fund, then treat it as a private fund
for purposes of Form PF. However, such a commodity pool is not required to be included when
determining whether you exceed one or more reporting thresholds. If such a commodity pool is a
qualifying hedge fund and you are otherwise required to report information in section 2a of
Form PF, then you must report regarding the commodity pool in section 2b of Form PF.
Federal Information Law and Requirements for a Collection of Information
Section 204(b) of the Advisers Act [15 U.S.C. § 80b-4(b)] authorizes the SEC to collect the information
that Form PF requires. The information collected on Form PF is designed to facilitate the Financial
Stability Oversight Council’s (“FSOC”) monitoring of systemic risk in the private fund industry and to
assist FSOC in determining whether and how to deploy its regulatory tools with respect to nonbank
financial companies. The SEC and CFTC may also use information collected on Form PF in their
regulatory programs, including examinations, investigations and investor protection efforts relating to
private fund advisers. Filing Form PF is mandatory for advisers that satisfy the criteria described in
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