KPMG LLP has allied with Axiom Software Laboratories to address new regulatory requirements facing investment advisors, including Form PF.
In January, the Securities and Exchange Commission issued a final rule under the Investment Advisers Act of 1940 requiring investment advisers who advise one or more private funds and have at least $150 million in private fund assets under management to file Form PF.
The SEC’s final rule on the new requirements took effect on March 31, and advisers will need to begin filing Form PF on a quarterly or annual basis beginning as early as July. Form PF filing requirements will vary based on the size of an investment adviser’s assets under management as well as the types of private funds it manages.
Working together, KPMG and AxiomSL have developed technology based on their knowledge of Form PF requirements and the alternative investment industry.
“KPMG has established itself as a leader in helping investment managers comply with the new regulatory requirements and address the complexities of new filing obligations such as Form PF for private funds’ investment advisors,” said KPMG LLP U.S. financial services leader for management consulting Atif Zaim in a statement.
AxiomSL incorporated KPMG’s field experience with Form PF in the software to automate the manual work of submitting controlled Form PF data to regulators. The software developer has experience with regulatory reporting and data management technology and in building interfaces to regulatory filing systems. It drew on KPMG’s experience and input in creating a Form PF data model and aggregation rules to develop technology for mid-year Form PF filers so they can file electronically.
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