The CFTC and SEC plan to raise the Form PF threshold and reduce reporting obligations for private funds.

CoinFeed reported on April 20 that the U.S. CFTC and SEC jointly released a proposal to reduce the reporting burden on smaller private fund managers by amending the private fund confidential reporting form, Form PF. The proposal proposes raising the asset management scale threshold for all private fund managers required to report from $150 million to $1 billion, exempting approximately half of existing reporting entities while still covering over 90% of total private fund assets. For hedge fund managers, the proposal proposes raising the reporting threshold for "large hedge fund managers" from $1.5 billion to $10 billion and eliminating the quarterly and "current reporting" obligations for smaller hedge fund managers, reducing some detailed reporting requirements. This is expected to significantly reduce the compliance burden on approximately two-thirds of the current quarterly reporting entities. The proposal is open for public comment for 60 days after its publication in the Federal Register.