The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), have agreed to extend the compliance date for the amendments to Form PF.
Form PF is the confidential reporting form for certain SEC-registered investment advisers to private funds. This includes advisors that also are registered with the CFTC as commodity pool operators or commodity trading advisers.
The amendments to Form PF were adopted on Feb. 8, 2024. The compliance date for these amendments was originally set for March 12, 2025.
That compliance date has now been extended to June 12, 2025. The extension will mitigate certain administrative and technological burdens and costs associated with the prior compliance date. Further, the extension will provide more time for filers to program and test for compliance with these amendments.
The Managed Funds Association (MFA) supports the extension, having requested it earlier this year.
“MFA supports the SEC and CFTC delaying the compliance deadline for the New Form PF by three months,” Bryan Corbett, MFA President and CEO, said. “Pushing back the implementation date will ensure the Commissions have time to finalize the technical specifications for the Form and do not receive inconsistent data on private funds. This will allow the SEC and CFTC to better monitor financial stability risks and give market participants adequate time to establish reporting systems.
“MFA and our members appreciate the new leadership at the SEC and CFTC moving away from the needlessly antagonistic approach to the industry adopted by the previous administration,” Corbett said. “Constructively engaging with the industry during the rulemaking process will enhance oversight of financial risks by producing rules that work better in practice and are more effective at achieving their intended aims.”