The U.S. CFTC and U.S. SEC propose amendments to relevant regulations to reduce reporting burdens for private funds

Gold Finance reports that on April 20, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) jointly proposed revisions to Form PF to reduce the reporting burden on private equity funds while ensuring the continued collection of necessary and appropriate information.
The proposed amendments will eliminate the reporting requirements for small advisers, which currently account for about half of the total number of advisers required to file Form PF. The amendments will raise the reporting threshold for private equity fund assets under management from $150 million to $1 billion. The proposal will also increase the risk exposure reporting threshold for large hedge fund advisers from $1.5 billion to $10 billion. Form PF will continue to collect information on more than 90% of the total assets of private equity funds and will require funds managed by large hedge fund managers to provide detailed risk exposure information. In addition, the proposed Form PF amendments will provide a method for identifying funds active in the private credit market.
Besides modifying these thresholds, the proposal will cancel or simplify many of the requirements of Form PF, thereby significantly reducing the burden on advisers that are required to submit Form PF. The proposal seeks comments on all proposed amendments.