Category Archives: Compliance

As background, Form PF requires private fund advisers with at least $150 million in private fund assets under management to report certain information to the SEC at least annually and for a subset of large private fund advisers to provide more information on a more frequent basis.

The rule proposal makes changes in three principal areas including:

Requiring current reporting by large private fund advisers for certain triggering events.

Change reporting thresholds and require additional information to be reported by large private equity advisers.

Require additional reporting by Large Liquidity Fund Advisers.

SEC Proposes New Cyber Rules For Advisers

February 11, 2022 Richard Chen Leave a comment

On February 9, 2022, the SEC proposed new rules that require investment advisers registered with or required to register with the SEC to adopt policies and procedures reasonably designed to address the cybersecurity risks they face as well as to conduct periodic assessments and annual reviews of their cybersecurity programs. The proposed rules would also require advisers to make and update public disclosures on Form ADV regarding cybersecurity risks and significant cybersecurity incidents and to make additional confidential disclosures to the SEC regarding cybersecurity incidents experienced by the firm or any funds they manage within 48 hours of a cybersecurity incident.

The rule proposal, if adopted, will invariably require advisers to devote significantly more time and resources to cybersecurity risk management.

Read more here.