Blackrock relieved with final reporting rules

Author: | Published: 9 Nov 2011
Blackrock has welcomed the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC)'s reduced reporting requirements for private fund advisers in its final rules released on October 31.

"I think the big win was a decision by the CFTC to accept Form PF as substitute compliance for entities that hold both SEC and CFTC registration," said BlackRock managing director Joanne Medero.

The proposed rule would have required separate filings to the CFTC, adding to the costs of disclosure.

In addition to advocating for a single reporting form, comments filed with the SEC lobbied for a longer filing period for hedge fund advisers, implementation of a reporting threshold for registered private fund advisers and removal of position-level reporting that could have disclosed trading...