The Securities and Exchange Commission (SEC) passed new amendments requiring advisers to hedge and private funds to disclose events that could indicate systemic risk or investor harm, a move the regulator said will improve transparency within $20 trillion of market activity.

The amendments, announced Wednesday, will require large hedge fund advisers with more than $1.5 billion in assets under management and all private fund advisers to file information in Form PF “upon the occurrence of certain reporting events that could indicate significant stress at a fund or investor harm,” the SEC said in a press release. The disclosures made in Form PF are private and only for use by regulators.

Reporting events for large hedge fund advisers “include certain extraordinary investment losses, significant margin and default events, terminations or material restrictions of prime broker relationships, operations events, and events associated with withdrawals and redemptions,” the SEC said. The rule also requires advisers to large private equity firms to include information “relating to these firms’ strategies, use of leverage, and clawbacks of a general partner’s performance compensation or a limited partner’s distributions,” SEC Chair Gary Gensler said in a statement.