Recognized as one of the premier practices in the industry, the Investment Funds Group leverages its extensive market knowledge and deep, long-term relationships to help sophisticated clients reach their most important investment goals. We have been at the forefront of some of the industry’s most creative and innovative investment product developments, helping clients set market trends instead of reacting to them.
Department of Treasury Proposes New Reporting Requirements Applicable to Private Funds
April 8, 2011
The Department of the Treasury recently released its final draft of a proposed new reporting form, Form SLT, in connection with the Treasury International Capital reporting system, which is designed to provide timely information on international capital movements. An investment advisor will be required to submit a Form SLT, as a representative of the funds it manages, if the total market value of all (i) securities issued by U.S. resident funds managed by the investment advisor to foreign residents and (ii) securities of foreign resident issuers owned by U.S. resident funds managed by the investment manager (and not held by U.S.-resident custodians, who are separately subject to Form SLT reporting requirements) equals or exceeds $1 billion. If approved, the new reporting requirements will become effective as of June 30, 2011.