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Hedge Funds Investment Adviser Private Funds

SEC Compliance Consultants, Inc. (SEC³)

Latest SEC Document Request Lists: What Private Fund Managers Should be Worrying About

Many private fund managers are breathing a sigh of relief after the Fifth Circuit struck down the Private Fund Rules (check out our blog post for more information). Do not, however, assume the SEC will stop its aggressive...more

Morrison & Foerster LLP

Significant Investment Adviser Regulatory Developments in 2024

Alongside the rapid pace of Securities and Exchange Commission (SEC) rulemaking, the SEC and its Staff continue to shape regulatory obligations for investment advisers in 2024 through guidance, alerts, enforcement actions,...more

Morris, Manning & Martin, LLP

Hedge Fund Pitch Deck is an "Advertisement" under the Advisers Act Marketing Rule

Recently, the SEC settled another administrative proceeding under the Advisers Act's Marketing Rule. This time, the SEC focused on advertisements that a hedge fund sponsor made to prospective investors. The hedge fund's...more

Proskauer - The Capital Commitment

Mid-Year Enforcement Update: SEC’s Continued Focus on Private Funds in 2024

As we reach the midpoint of 2024, the SEC has maintained its rigorous enforcement stance on the private funds industry, proposing new rules and oversight tools to better identify and investigate market practices. As 2024...more

Proskauer Rose LLP

Proskauer's Hedge Start: What Key Exemptions Apply to Hedge Funds?

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We have separately discussed the common exemptions from registration of a fund manager with the Securities and Exchange Commission (SEC) as an investment adviser and from registration with the Commodity Future Trading...more

Williams Mullen

SEC Private Fund Rule Struck Down by US Appeals Court

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A U.S. appeals court struck down a newly adopted Securities and Exchange Commission (“SEC”) rule implementing a series of new disclosure requirements and restrictions on private fund advisors....more

Cadwalader, Wickersham & Taft LLP

Big News for Funds June 2024 - Fifth Circuit Strikes Down the Private Fund Adviser Rules

This week, the U.S. Court of Appeals for the Fifth Circuit vacated the private fund advisor rules (the “Final Rule”) adopted by the United States Securities Exchange Commission (the “SEC”). The Final Rule imposed significant...more

Carlton Fields

SEC and CFTC Amend Form PF … Again: Private Fund Advisers Should “Kick the Tires” Before Next Race to File

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In February 2024, the SEC and the Commodity Futures Trading Commission (CFTC) adopted major amendments to Form PF to provide greater transparency into the operations and strategies of private funds, and to assist the...more

Proskauer - Private Market Talks Podcast

[Podcast] Private Market Talks: The Hedge Fund Platform Model with Crestline’s Caroline Cooley

In this episode, we’re joined by Caroline Cooley, managing partner and CIO for Crestline Summit Strategies. Caroline joined Crestline in 1998 and has since helped build the firm into a multi-strategy, multi-portfolio and...more

Proskauer Rose LLP

Proskauer's Hedge Start: When Is SEC Registration Necessary?

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An initial question faced by any manager launching a hedge fund is whether or not registration as an investment adviser with the U.S. Secutiries and Exchange Commission (SEC) under the Investment Advisers Act of 1940, as...more

SEC Compliance Consultants, Inc. (SEC³)

Compliance Roundup for April 5, 2024

Compliance Update for the week Ending April 5, 2024 - For our clients and compliance colleagues, this weekly update will give you a quick look at the latest regulatory developments. Enjoy!...more

K&L Gates LLP

SEC and CFTC Adopt Amendments to Form PF for Increased Disclosure

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Brief Overview - On 8 February 2024, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) jointly adopted amendments to Form PF (the Amendments), the confidential reporting form...more

Proskauer Rose LLP

SEC Strengthens Regulation 13D-G Rules for Beneficial Ownership Reporting

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On October 10, 2023, the Securities and Exchange Commission adopted amendments to the rules governing beneficial ownership reporting under Sections 13(d) and 13(g) of the Securities Exchange Act of 1934. The adopting release...more

Dechert LLP

SEC Current Reporting Requirements for Private Funds Become Effective in December

Dechert LLP on

Key Takeaways - Following the SEC’s adoption, earlier this year, of changes to Form PF, large hedge fund advisers will face, for the first time, a requirement to report certain events to the SEC within 72 hours. ...more

Morgan Lewis

SEC Adopts Amendments to Form PF Impacting Advisers to Large Liquidity Funds

Morgan Lewis on

The US Securities and Exchange Commission recently implemented amendments to Form PF for large liquidity fund advisers, which will take effect June 11, 2024....more

Hogan Lovells

SEC adopts overhaul to Form PF, requiring more frequent reporting for some advisers

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The U.S. Securities and Exchange Commission (SEC) adopted final amendments to Form PF, the confidential reporting form required for certain SEC-registered investment advisers (RIAs) to private funds, on 3 May 2023. The...more

Katten Muchin Rosenman LLP

Four Key Considerations Since SEC Amended Form PF

In early May, the SEC adopted a final rule amending Form PF, the confidential reporting form for certain SEC-registered investment advisers to private funds. Form PF is designed to facilitate both the Financial Stability...more

Tannenbaum Helpern Syracuse & Hirschtritt LLP

SEC Adopts Amendments to Form PF

On May 3, 2023, the SEC adopted amendments to Form PF, the confidential reporting form filed by certain SEC-registered investment advisers. The amendments are an effort to improve the ability of the Financial Stability...more

Troutman Pepper

SEC Adopts Significant Amendments to Form PF

Troutman Pepper on

On May 3, the U.S. Securities and Exchange Commission (SEC) adopted significant amendments to Form PF, the confidential reporting form for certain SEC-registered investment advisers to private funds. The final amendments will...more

King & Spalding

SEC Adopts Amendments to Form PF; Establishes Certain “Event Reporting” Requirements for Private Equity Advisers and Large Hedge...

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On May 3, 2023, the SEC adopted amendments to Form PF that will establish new event-reporting requirements for “private equity fund advisers” and “large hedge fund advisers”, and will require certain additional annual...more

K&L Gates LLP

The SEC Significantly Expands the Scope of Form PF Reporting

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Introduction and Summary - On 3 May 2023, the Securities and Exchange Commission (SEC) approved amendments to Form PF (the Amendments), the confidential reporting form required to be filed by certain SEC-registered private...more

Morgan Lewis

A Trending Hedge Fund Hub: Key Aspects of ADGM Hedge Funds

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The Abu Dhabi Global Market (ADGM) is fast becoming an international financial hub in the MENA region for global hedge fund managers that are drawn to the quality of the ADGM’s independent regulator, the Financial Services...more

Dorsey & Whitney LLP

SEC Amends Form PF to Require Event Reporting

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On May 3, 2023, the Securities and Exchange Commission (the “SEC”) adopted amendments (“Amendments”) to Form PF that will require: (i) current reporting by “large hedge fund advisers” of certain events that may indicate...more

Lowenstein Sandler LLP

AML Best Practices for Private Fund Managers: The Prudence of Establishing an AML Compliance Program

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I. Introduction- U.S. hedge funds, private equity funds, and venture capital funds (collectively, the Private Funds),1 and their U.S. general partners, sponsors, and managers (Advisers), are not directly subject to the...more

ArentFox Schiff

SEC - CFTC Joint Proposed Amendments Introduce Enhanced Private Fund Reporting Requirements

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On August 10, 2022, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) issued a joint proposal to amend Form PF, a reporting form for SEC-registered reporting private fund...more

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