Private fund advisors with more than $1 billion in assets under supervision have a greater need for monitoring, especially after lessons learned during the recent financial crisis, according to the Securities and Exchange Commission. So the commission proposed requiring all registered investment advisors that work with one or more private funds to complete a new document, the Form PF. Registered investment advisors who work with hedge and private equity funds, among others, would be required to file the new form periodically.

The U.S. Commodity Futures Trading Commission (CFTC), which regulates the commodity futures and options markets, could vote tomorrow on jointly proposing the new reporting requirements, according to the SEC.

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