CFTC and SEC Propose Rules to Reduce the Reporting Burden of Private Equity Funds On April 20th, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) jointly proposed revising the PF form to alleviate the reporting burden on private equity funds while ensuring the continued collection of necessary and appropriate information. The proposed amendment will eliminate the declaration requirement for small consultants, who currently account for approximately half of the total number of consultants required to submit PF forms. The amendment raises the declaration threshold for assets managed by private equity funds from $150 million to $1 billion. The proposal also raises the risk exposure reporting threshold for large hedge fund advisors from $1.5 billion to $10 billion. The PF form will continue to collect information on over 90% of the total assets of private equity funds and require funds managed by large hedge fund managers to provide detailed risk exposure information. In addition, the proposed amendment to the PF form will also provide a method for identifying funds active in the private credit market. In addition to modifying these thresholds, the proposal will also eliminate or simplify many requirements for PF forms, greatly reducing the burden on consultants who need to submit PF forms. This proposal seeks opinions on all proposed amendments.