State Street has added Form PF reporting capabilities for private fund advisers to its suite of reporting tools.
The enhancements will help clients comply with the new SEC rules impacting hedge, private equity, liquidity and other private funds. Private fund advisers, which include hedge funds and private equity firms, will be required to adopt Form PF reporting in 2012 in order to comply with Section 404 of the Dodd-Frank Act. Section 404 requires registered investment advisers who manage one or more private funds to maintain records and file reports as mandated by the SEC for investor protection or for the assessment of systemic risk to the US Financial System by the Financial Stability Oversight Council (FSOC)
The enhanced Form PF product offering will include service options ranging from fund-level information for funds administered at State Street to full form preparation including external third party data aggregation. Clients can also opt to have State Street submit the form directly to the SEC on their behalf.
(JDC)