Private equity firms will be required to report some secondary transactions under new Securities and Exchange Commission rules, which aim to identify threats to the financial system and investors.

Agency commissioners voted 3-2 on 3 May to expand the amount of information that managers of private funds such as buyout vehicles and hedge funds have to disclose in confidential reports to regulators. These disclosures, called Form PF reports, are intended to give regulators early warning about issues that could be risky for investors or the financial system as a whole.