Yesterday, the Securities and Exchange Commission (SEC) voted to extend the compliance date for rule amendments that expand the reporting requirements for private fund managers. The Form PF amendments were adopted on February 8, 2024 (discussed here), with an original compliance date of March 12, 2025, then extended to June 12, 2025, and now will be extended to October 1, 2025 (provided the Commodity Futures Trading Commission (CFTC) similarly approves the extension).
Perhaps more importantly, Form PF may be in line for a more critical review of the scale and scope of data collected (and proposed to be collected). Katten will continue to monitor and provide updates, but please reach out to your Katten contact with any questions.
Although I support an extension, my concerns about Form PF and its recent expansions persist. We should reassess whether the information the form collects aligns with the intended purpose of the form . . . I support the Chairman’s directive to review Form PF to determine whether it serves its intended systemic risk mitigation purpose. --- Commission Hester M. Peirce, June 11, 2025.
www.sec.gov/...
