KPMG is a company that provides audit, tax and advisory services and industry insight to assist companies negotiate risks and perform in the dynamic and complex environments in which they do business.
Recently, the company partnered with Axiom Software Laboratories, Inc. to cater to the new regulatory requirements for investment advisors, including Form PF. Under this partnership, KPMG and AxiomSL have created a unique technology solution based on their expertise of Form PF requirements and the alternative investment industry.
“By partnering with a leader in regulatory reporting technology we have been able to rapidly incorporate our actual field experience with Form PF into a tested software solution. This should help our clients reduce costly manual work and accelerate their efforts to submit controlled, high-quality Form PF data to regulators,” added Jonathan Cohn, a KPMG principal for IT strategy and performance.
In January, under the Investment Advisers Act of 1940, the Securities and Exchange Commission (SEC (News - Alert)) issued a final rule, which needs certain investment advisers, who advise one or more private funds, to have at least $150 million in private fund assets under management, to file Form PF. On March 31, the SEC final rule became effective and advisers will need to begin filing Form PF on a quarterly or annual basis beginning as early as July.
However, based on the size of an investment adviser’s assets under management as well as the types of private funds it manages, Form PF filing requirements will vary, the company stated in a press release.
Recently, the company released a survey where it stated that food and beverage companies have considerable cash on the balance sheets and they are looking to increase capital expenditure on new products, mergers and acquisitions and technology to increase growth. Executives remain focused on costs and efficiency, and indicate their companies are placing increased emphasis on talent management and regulatory compliance while investing in growth.
Edited by Brooke Neuman