US SEC and CFTC Delay Hedge Fund Disclosure Requirements for the Fourth Time

Odaily News: The U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) have once again postponed the new disclosure rules for hedge funds, extending the deadline for submitting the Private Fund Report (Form PF) to July 1.

The rule aims to help regulators understand private funds' holdings, leverage, and risk exposure during market volatility, in order to identify counterparty risks, margin pressures, and potential systemic risks. This postponement marks the fourth time regulators have delayed the relevant requirements.

The newly added disclosure rules have previously faced opposition from the private fund industry, as fund companies are concerned about the potential leakage of sensitive information such as investment strategies. In April of this year, the SEC and CFTC proposed an adjustment plan to raise the filing threshold for Form PF, increasing the private fund asset management size threshold from $150 million to $1 billion; however, this plan has not yet been finalized.