SEC Updates Form PF FAQ (with Lofchie Comment)

The SECDivision of Investment Management announced updates to its frequently asked questions related to Form PF. Form PF is a reporting form for investment advisers to private funds, certain commodity pool operators and commodity advisors.

Lofchie Comment:There are about 10 new questions and answers in the FAQ. Persons responsible for completing Form PF should run a word search on the term "2014" and will then be able to jump from question to question. There is some minor guidance in the new FAQ as to the treatment of repurchase agreements. Unfortunately, the entire Form really needs to be cleaned up and rethought, particularly with regard to its questions on leverage.

See: Form PF: Frequently Asked Questions. See also: About Form PF.

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