The end of August brought the first filing deadline for Form PF, the latest and largest attempt to gather data on the alternative investment industry. The August filers, representing some of the world's biggest and most reputable money managers, have at least $5 billion of regulatory assets under management and were first in line to complete the more than one thousand data fields contained in Form PF's dozens of pages.

While the process of completing Form PF is a daunting one, there are several lessons that can be learned from these early filings. The experiences of the largest investment managers can serve as helpful guideposts for smaller investment managers whose filing deadlines still remain on the horizon. With respect to such regulatory concerns, an appreciation of the pain points of the summer will help to avoid a winter of discontent.

Perhaps the most universal advice that has been given on Form PF is that early preparation is essential to delivering a successful filing. The old adage that the early bird gets the worm appears to hold true in this case, as the sheer volume of data that must be compiled has proven to be enormous. Moreover, many different departments and job functions must interact to complete Form PF, so the time required for collaboration is substantial. Read full story on Advanced Trading


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