The Securities and Exchange Commission voted today to propose changes to Form PF, the confidential reporting form for SEC-registered private fund investment advisers. In view of the growing private fund business, the proposed revisions are intended to strengthen the Financial Stability Control Council’s (FSOC) ability to assess systemic risk, as well as the Commission’s regulatory oversight of private fund advisers and investor protection activities. After this news meme stocks like AMC and GME soared.
“Since the adoption of Form PF in 2011, a lot has changed. The private fund industry has grown in size to $11 trillion and evolved in terms of business practices, complexity of fund structures, and investment strategies and exposures. The Commission and Financial Stability Oversight Council now have almost a decade of experience analyzing the information collected on Form PF. We have identified significant information gaps and situations where we would benefit from additional information. Among other things, today’s proposal would require certain advisers to hedge funds and private equity funds to provide current reporting of events that could be relevant to financial stability and investor protection, such as extraordinary investment losses or significant margin and counterparty default events. I am pleased to support it.”–said SEC Chair Gary Gensler
AMC Entertainment Holdings Inc. (NYSE: AMC) saw its stock gaining after a long losing streak. The AMC stock was up by 10.93% and traded at $17.76 (up by 1.75 points) at 12:53 p.m. ET in today’s trading session. The market valuation of the company stood at $9.02 billion.
The AMC stock had fallen by 3.85% and traded at $16.00 (down by 0.64 points) 10:41 a.m. ET yesterday. The market valuation of the company stood at $8.4 billion. The share volume traded for the stock was 13,911,810, more than double the average share volume of 6,731,325.
The AMC stock was down by 3.97% and was priced at $15.98 (down by 0.66 points at 8:49 a.m. ET is in the pre-market trading session yesterday. The day before yesterday, the stock closed at $16.64 and gained a mere 0.12% (up by 0.020 points).
GameStop Corporation (NYSE: GME) also saw a pause to its losing streak. The GME stock was up by a huge 13.24% and traded at $113.00 (up by 13.21 points) at 1:04 p.m. ET in today’s trading session. The market capitalization stood at $8.62 billion.
On January 24, 2022, GME stock was down substantially. The share prices came down by 12.15% and traded at $93.44 (losing 12.92 points) at 10:26 a.m. ET. The market valuation of the company stood at $7.2 billion.