SEC Open Meeting, October 26, 2011

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Dodd-Frank Timeline, Investment Adviser Reporting, Joint SEC-CFTC Rulemaking
Final Rule Issue Effective Date Compliance Date
November 16, 2011 March 31 2012 June 15, 2012*

The U.S. Securities and Exchange Commission (SEC) held a public meeting on October 26, 2011 focused on reporting of information to the Financial Stability Oversight Council (FSOC) by advisers to hedge funds and other private funds, as a way to monitor risk. The final rule implements Sections 404 and 406 under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The final rule "requires SEC-registered investment advisers with at least $150 million in private fund assets under management to periodically file a new reporting form (Form PF)."<ref>SEC Approves Confidential Private Fund Risk Reporting. SEC. Retrieved on October 26, 2011.</ref>

The rules divide investment advisers into two groups, large advisers and smaller advisers, and will go into effect using a two-stage phase-in period for compliance.

Archived webcast:

Final Rules[edit]

Reporting by Investment Advisers to Private Funds and Certain Commodity Pool Operators and Commodity Trading Advisors on Form PF

Read final rule.png


Commissioner Troy A. Paredes, whose statements include:

  • "In short, as the release explains, advisers will be allowed more time to file Form PF; the threshold that delineates a large private equity fund adviser has doubled; large private equity fund advisers will have to file less frequently; advisers will generally have to report less information; fewer advisers will have to file the Form; and advisers will have more flexibility to use their existing methodologies and recordkeeping practices to comply with the rule."
  • Support for the final rule.<ref>Speech by SEC Commissioner: Statement at Open Meeting to Adopt Form PF by Commissioner Troy A. Paredes. SEC. Retrieved on October 26, 2011.</ref>

Chairman Mary L. Schapiro, whose statements include:

Commissioner Luis A. Aguilar, whose statements include:



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