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

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