The Commodity Futures Trading Commission and the Securities and Exchange Commission (together, the “Commissions”) issued final rules defining the systemic risk reporting obligations of private fund advisers on Form PF.1 The new rules, issued October 31, 2011, implement Sections 404 and 406 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the “Dodd Frank Act”) and are aimed at providing the information necessary for the Financial Stability Oversight Council to assess systemic risk to the financial system.

WHO MUST FILE FORM PF

Section 1 of Form PF must be filed by advisers that...