On October 6, the Commodity Futures Trading Commission (CFTC) announced a Memorandum of Understanding (MOU) with the Office of Financial Research (OFR) that permits the CFTC to share with OFR information and data reported on Form CPO-PQR. OFR intends to use this data to carry out its statutory responsibilities and functions, which include conducting financial stability-related research and collecting data on behalf of the Financial Stability Oversight Council.
Continue Reading CFTC and the Office of Financial Research Sign Memorandum of Understanding to Allow Information Sharing

On April 24, the Securities and Exchange Commission (SEC) announced the formation of an internal, cross- division COVID-19 Market Monitoring Group (COVID-19 Group). The COVID-19 Group will be a temporary, senior-level group that will assist various divisions and offices within the SEC with (1) developing staff actions and analysis related to COVID-19’s effect on markets, issuers and investors (including Main Street investors), and (2) responding to requests for information, analysis and assistance from other regulators and public sector partners.
Continue Reading SEC Announces Formation of Cross-Divisional COVID-19 Market Monitoring Group

On June 1, the Securities and Exchange Commission announced settlements with 13 registered investment advisers who repeatedly failed to annually file or update reports on Form PF. Form PF is a confidential reporting form required for private fund investment advisers managing $150 million or more of assets. The SEC began requiring that applicable registered investment advisers file an annual Form PF in 2012 under Rule 204(b)-1 of the Investment Advisers Act of 1940. Form PF requests, among other things, information about private funds’: asset values, investment strategies, performance, and use of borrowed money and derivatives. The SEC uses Form PF data to monitor industry trends, inform rulemaking, identify compliance risks, and target examinations and enforcement investigations. The SEC also shares Form PF data with the Financial Stability Oversight Council (FSOC), which assists FSOC in evaluating systemic risks potentially caused by hedge funds and other private funds.
Continue Reading SEC Charges 13 Private Fund Advisers for Repeated Form PF Filing Failures