Joint Proposal by the SEC and CFTC to Streamline Form PF
April 21, 2026
Contact: IAA VP of Communications & Marketing Janay Rickwalder
The Investment Adviser Association welcomes the joint proposal by the SEC and CFTC to streamline and simplify Form PF. The IAA appreciates that the proposal seeks to tailor Form PF to collect only information that is necessary for assessing systemic risk and not require the reporting of information not useful for that purpose. We also applaud the Commissions for their efforts to reduce regulatory burdens on smaller advisers by eliminating or reducing Form PF reporting obligations for these advisers.
Based on our preliminary review of the proposal, the proposed increase of the reporting thresholds for all private fund advisers and for large hedge fund advisers reflect a thoughtful, tailored approach. The proposed risk-based adjustments would appropriately eliminate or reduce unnecessary reporting burdens on smaller advisers without reducing investor protection or systemic risk oversight. We look forward to continuing to engage with the Commissions as the proposal moves forward.
