The U.S. Securities & Exchange Commission, working with the Commodity Futures Trading Commission, extended the compliance date for the February 2024 amendments to Form PF while the agencies continue reviewing the rule. The extension follows an ongoing SEC and CFTC review launched after a federal directive to reassess finalized regulations that had not yet taken effect. The statement cites additional market feedback raising questions about whether the final amendments are workable, necessary, and in certain areas authorized by law, including issues arising from changes between the proposal and the final rule that were not addressed during the original rulemaking. The SEC framed the extension as a way to avoid private fund advisers incurring potentially duplicative implementation costs for systems and processes that could later need to be revised or abandoned, with those costs ultimately borne by investors. The review remains underway, and the SEC indicated it expects further engagement with market participants on Form PF.
U.S. Securities & Exchange Commission 2025-09-17
U.S. Securities & Exchange Commission further extends the compliance date for the February 2024 Form PF amendments in coordination with the CFTC
The U.S. SEC, with the CFTC, has extended the compliance date for February 2024 Form PF amendments amid ongoing review. This follows a federal directive to reassess regulations and addresses market feedback questioning the amendments' necessity and legality. The SEC aims to prevent private fund advisers from incurring unnecessary costs for systems that may require future revisions.