State Street adds Form PF for US regulatory compliance
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State Street adds Form PF for US regulatory compliance 10 January 2012Boston Reporter: Anna Reitman
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State Street has added regulatory reporting capabilities to help advisers comply with new SEC rules impacting hedge, private equity, liquidity and other private funds.
Private fund advisers will be required to adopt Form PF reporting in 2012 in order to comply with the Dodd-Frank Act. Form PF is intended to provide investor protection when filed with the SEC or to assess systemic risk when sent to the Financial Stability Oversight Council (FSOC), a new body established under the Act and chaired by the US secretary of the Treasury.
"Our goal is to provide our clients with new products and functionality to automate reporting and comply with changing regulatory requirements," said George Sullivan, executive vice president and head of State Street's alternative investment solutions group. "Clients can leverage our infrastructure and capabilities to help alleviate the administrative challenges they face and focus instead on growing their core business."
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