Form PF and rule 204(b)-1 under the
Investment Advisers Act of 1940 (“Advisers Act”) require certain
investment advisers registered with the SEC to report confidential
information about the private funds they advise. The rules
implement provisions of Title IV of the Dodd-Frank Wall Street
Reform and Consumer Protection Act (“Dodd-Frank Act”), which
amended the Advisers Act to require the SEC to, among other things,
establish reporting requirements for advisers to private funds. The
information collected on Form PF is designed to facilitate the
Financial Stability Oversight Council’s (“FSOC”) monitoring of
systemic risk in the private fund industry and assist FSOC in
determining whether and how to deploy its regulatory tools with
respect to nonbank financial companies. The SEC and the Commodity
Futures Trading Commission (“CFTC”) also may use information
collected on Form PF in their regulatory programs, including
examinations, investigations, and investor protection efforts
relating to private fund advisers. Form PF is a joint form between
the SEC and the CFTC with respect to sections 1 and 2; the SEC
solely adopted the other sections of the form.
The total annual hour burden of
451,012 hours represents an increase of 41,244 hours over the
previous burden hour estimate of 409,768 hours. In addition, the
annual external cost burden of $1,610,828 represents a decrease of
$2,018,022 over the previous annual external cost burden estimate
of $3,628,850. The changes in burden hours and external cost
burdens are due to the staff’s estimates of the time costs and
external costs that result from the adopted amendments, the use of
updated data, and the use of different methodologies to calculate
certain estimates.
No
No
Yes
No
No
No
No
Jill Pritzker 202
551-5945
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.