Form PF and Rule 204(b)-1

ICR 202011-3235-019

OMB: 3235-0679

Federal Form Document

Forms and Documents
Document
Name
Status
Form
Modified
Supplementary Document
2021-02-12
Supplementary Document
2021-02-12
Supporting Statement A
2020-11-24
IC Document Collections
IC ID
Document
Title
Status
196787 Modified
ICR Details
3235-0679 202011-3235-019
Received in OIRA 201711-3235-007
SEC IM-270-636
Form PF and Rule 204(b)-1
Extension without change of a currently approved collection   No
Regular 02/12/2021
  Requested Previously Approved
36 Months From Approved 05/31/2021
5,056 4,025
409,768 427,394
3,628,850 3,532,550

Form PF will be filed by registered investment advisers that have at least $150 million in private fund assets under management. These advisers must report information regarding their private funds for use by the Financial Stability Oversight Council in monitoring systemic risk. Form PF divides respondents into two broad groups, Large Private Fund Advisers and smaller private fund advisers. “Large Private Fund Advisers” are advisers with at least $1.5 billion in assets under management attributable to hedge funds (“large hedge fund advisers”), advisers that manage “liquidity funds” and have at least $1 billion in combined assets under management attributable to liquidity funds and registered money market funds (“large liquidity fund advisers”), and advisers with at least $2 billion in assets under management attributable to private equity funds (“large private equity advisers”). All other respondents are considered smaller private fund advisers. Smaller private fund advisers must report annually and provide only basic information regarding their operations and the private funds they advise. Large private equity advisers also must report on an annual basis but are required to provide additional information with respect to the private equity funds they manage. Finally, large hedge fund advisers and large liquidity fund advisers must report on a quarterly basis and provide more information than other private fund advisers. A private fund adviser would also be required to file very limited information on Form PF if it is no longer required to report on the form, if it is transitioning from quarterly to annual filing or if it is requesting a hardship exemption. This collection of information would implement the requirements of Sections 404 and 406 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

PL: Pub.L. 111 - 203 404 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   US Code: 18 USC 80a-1 et seq. Name of Law: Investment Advisers Act of 1940
  
PL: Pub.L. 111 - 203 404 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act

Not associated with rulemaking

  85 FR 77475 12/02/2020
86 FR 9415 02/12/2021
No

1
IC Title Form No. Form Name
Form PF SEC2048 Form PF

  Total Request Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 5,056 4,025 0 1,031 0 0
Annual Time Burden (Hours) 409,768 427,394 0 -17,626 0 0
Annual Cost Burden (Dollars) 3,628,850 3,532,550 0 96,300 0 0
No
Yes
Miscellaneous Actions
The total annual hour burden of 409,768.75 hours represents a decrease of 17,625.25 hours from the previous approved burden hour estimate of 427,394 hours. The total annual burden cost of $122,152,100.25 represents an increase of $3,257,254.25 over the previous approved burden cost of $118,894,846. The annual external cost burden of $3,628,850 represents an increase of $96,300 over the previous annual external cost burden estimate of $3,532,550. The changes in burden hours and external cost burdens are due to the estimated change in the number of advisers filing Form PF, whether as an initial filing or subsequent filing, and the estimated change in the wages paid.

No
    No
    Yes
No
No
No
No
Juliet Han 202 551-5213

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
02/12/2021


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