Increased reporting requirements add to compliance burden (Hedge Fund Alert)

Compliance requirements are piling up for hedge funds and other private funds. That is, if several new rule proposals issued by the SEC come to fruition. Proposed revisions to Form PF will require greater time commitments from CCOs and compliance personnel to collect and submit certain fund data based on reporting triggers. FrontLine’s Founder and President Amy Lynch comments on this issue were highlighted in two Hedge Fund Alert feature stories. More disclosure requirements along with greater frequency of reporting of additional data will no doubt increase the compliance burden, explains Ms. Lynch. She further notes that while hedge funds have the data to produce, it’s unlikely these firms have had to previously aggregate and format it in a way to meet the new filing requirements as proposed. See Hedge Fund Alert (subscription required), “Regulatory Roundup: Hedge Funds Expect Far More Aggressive SEC; MFA Decries ‘Attack’ on Managers” and “SEC Eyes Stouter, More Frequent Reports”