NEW SEC building
Wall Street's top regulators unveiled a plan to reduce hedge fund reporting requirements, according to a statement.
The Commodity Futures Trading Commission and Securities and Exchange Commission jointly proposed eliminating filing requirements for smaller advisers and raising the threshold for all filers from $150 million in private fund assets under management to $1 billion. The agencies use the data collected confidentially under so-called Form PF for examinations and investigations tied to private fund advisers.
"A key pillar of my agenda is restoring balance to disclosure obligations and reducing the cost of compliance wherever possible," SEC Chairman Paul Atkins said in the statement. "These proposed changes would help to rationalize the scope of Form PF requirements to support its purpose and bring our overall disclosure regime back into alignment."
The SEC had delayed from taking effect Biden-era disclosure requirements that would have required more information to be shared with the regulator.
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