CFTC and SEC plan to raise the Form PF threshold and reduce private fund reporting obligations

ME News messages. On April 21 (UTC+8), the U.S. CFTC and the SEC jointly released a proposal to reduce the filing burden on small private fund managers by amending the confidential reporting form for private funds, Form PF. The proposal would raise the asset management size threshold for all private fund managers required to file from $150 million to $1 billion, exempting about half of existing reporting entities, while still covering more than 90% of total private fund assets. For hedge fund managers, the proposal would increase the reporting threshold for “large hedge fund managers” from $1.5 billion to $10 billion, and eliminate quarterly and “current report” obligations for small hedge fund managers, reducing some detailed reporting requirements. It is expected to significantly lower the compliance burden for approximately two-thirds of quarterly reporting entities. The proposal has been opened to public comment, with the comment period set at 60 days after publication in the Federal Register. (Source: PANews)