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The SEC is reassessing existing disclosures for private funds in light of controlled growth in the number of funds and fund balances to better monitor systemic risk. In January 2022, the SEC proposed Form PF changes for SEC-registered investment advisers. On August 10, 2022, the SEC issued a second set of proposed Form PF updates jointly with the Commodity Futures Trading Commission that covers private funds, commodity pool operators, and commodity trading advisors. This article highlights the most significant changes.

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