CPOs and CTAs subject to reporting requirements under CFTC Regulation 4.27 are required to file NFA Forms PQR and PR, respectively, on a quarterly basis. These forms collect general identifying information regarding the CPO or CTA, as well as specific information on the pools operated or the assets managed. In particular, CPOs and CTAs must periodically report information regarding their operations and the pools (and, in some cases, related managed accounts) that they have under management, including basic identifying information about those pools, the value of assets under management, fund performance, and the use of leverage. The forms require the submission of financial data including (i) the ratio of current assets to current liabilities and (ii) the ratio of total revenues to total expenses. Each CPO and CTA must be able to demonstrate to NFA how it calculated the ratios reported in Form PQR or PR. Therefore, each CPO and CTA must maintain, as required by NFA Compliance Rule 2-10, financial records supporting the calculation of these ratios.
For a full discussion of these reporting requirements, see the CEA Chapter on Disclosure, Reporting and Recordkeeping--Systemic Risk Reporting.
Private investment subject to regulation by the SEC is subject to a comparable requirement under the SEC's rules; see the topic page on Form PF Reporting Requirements for Private Funds.