Hedge funds say the US regulator's move to tighten reporting requirements could force a rise in industry fees, with a likely hit on investors' pockets.

The Security and Exchange Commission made changes to Form PF — a confidential reporting form for investment advisers in the US — to bolster investor protection efforts by requiring large hedge funds to report significant events such as investment losses, termination of prime brokerage relationships, and issues related to withdrawals and redemptions within 72 hours of the occurrence of the event.