The trade association for some of the nation’s largest pension funds – and some of the world’s biggest endowments and family offices – is urging the SEC to require private fund advisers to disclose their Form PFs to investors.
“The information is already being filed and shared with the SEC,” Institutional Limited Partners Association senior policy counsel Chris Hayes told affiliate publication Regulatory Compliance Watch. “So there is no additional compliance burden to share it with LPs in their funds, subject to similar confidentiality protections if required.”
Anyone can lobby the government for anything, but ILPA finds itself with a lot more clout in Washington since Joe Biden became president.
Commission chairman Gary Gensler has already endorsed ILPA’s arguments about fund advisers outsourcing their fiduciary duties, and many of his reform priorities graph neatly onto ILPA’s asks.
This article first appeared in affiliate publication Regulatory Compliance Watch