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Form PF

Form PF

Form PF represents a new and complex regulatory reporting requirement with respect to private funds of SEC registered investment advisers. Form PF requires private fund advisers to report new data points with increased granularity.


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Form PF


Form PF and Form CPO-PQP represent new and complex systemic risk reporting requirements with respect to private funds of SEC Registered Investment Advisors (RIA) and commodity pools of CPOs respectively.

Form PF applies to all RIAs managing:

  • hedge funds 
  • private equity funds
  • real estate funds
  • liquidity funds, and
  • all other funds that rely upon the 3(c)(7) or 3(c)(1) exemptions to the Investment Company Act of 1940, regardless of the domicile.

Prepare for Form PF

Form PF requires advisors to disclose comprehensive fund information to the SEC which can be used in SEC examinations, investigations, investor protection efforts and other regulatory programmes. This represents an unprecedented breadth of information, that is required from hedge fund advisors.
As a result of these new regulatory requirements, it is not surprising that investment advisers are seeking independent advice and assistance in the preparation of their Form PF filings.

What KPMG in Bermuda offers

We are committed to exceeding your expectations. From project management and execution support, to providing deep subject-matter knowledge, we can help inform your strategy on various provisions of the reform.  KPMG in Bermuda is poised to begin working with you immediately to:

  • Assess your fund scoping 
  • Design reporting process
  • Develop business requirements
  • Design data management and governance strategy
  • Plan for a sustainable technology methodology
  • Implement an effective governance and risk management framework.


KPMG in Bermuda continues to be forward thinking in our approach to providing professional services. We are a leader in our market, offering:

  • Local presence – KPMG in Bermuda has built a solid reputation based on years of fund experience and deep rooted industry knowledge.
  • Global insight – Our local team is strengthened by the support provided by our global network who have worked extensively with large RIAs, CPOs and industry service providers in implementing all aspects of Form PF, from scoping and interpretation through conduct of dry runs and filings. 
  • Real investment and tested methodology – We have invested significant resources in developing the necessary tools and services. AxiomSL and KPMG have jointly developed a comprehensive and flexible technology solution that our clients can leverage to support their business model.
    Would you like more information?
    If you would like to know more please contact David Harper.

© 2020 KPMG, a group of Bermuda limited liability companies which are member firms of the KPMG network of independent member firms affiliated with KPMG International Coopertive (“KPMG International”), a Swiss entity. All rights reserved.

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