BNY Mellon has launched a Form PF reporting service for alternative investment managers.
A joint effort of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), Form PF reporting complies with Section 404 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, aimed at protecting investors and the U.S. financial system from future systemic risk. BNY Mellons new service offers its fund administration clients who are SEC Registered Investment Advisers to private funds such as hedge funds and private equity funds the ability to meet Form PFs data collection, records management, transparency reporting and filing requirements.
BNY Mellon is offering two solutions: a premium service tailored to individual client needs where BNY Mellon collects and aggregates data from internal and external sources, and a standard service where BNY Mellon receives calculated data from the client. With either option, clients review and then file the completed Form PF with the SEC.
(JDC)