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

ME News Report, April 21 (UTC+8), the U.S. CFTC and SEC jointly released a proposal to reduce the reporting burden on small private fund managers by amending the confidential reporting form for private funds, Form PF. The proposal plans to raise the asset management threshold for all private fund managers required to report from $150 million to $1B, exempting about half of the current reporting entities while still covering over 90% of total private fund assets. For hedge fund managers, the proposal intends to raise 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. This is expected to significantly lower the compliance burden for approximately two-thirds of quarterly reporting entities. The proposal has been open for public comment for 60 days after publication in the Federal Register. (Source: PANews)