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
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.
Form SEC2048 Form PF
3235-0679 30 Day Notice.pdf
Form PF