MFA, together with industry associations, submitted a letter to the SEC and CFTC regarding proposed amendments to Form PF that would require additional reporting for private credit funds. MFA urged the Commissions to avoid imposing duplicative reporting requirements and to recognize that existing Form PF reporting already provides regulators with extensive information on the private credit market.
MFA recommends that the Commissions:
- Recognize that existing Form PF reporting already provides regulators with comprehensive information on private credit fund activities, including borrowing, investment strategies, and counterparty exposures.
- Avoid imposing additional private credit-specific reporting requirements that would duplicate information regulators already receive through current reporting frameworks.
- Continue efforts to improve Form PF in a targeted manner that enhances regulatory oversight while minimizing unnecessary compliance burdens on private funds.
- Leverage existing Form PF data, including strategy-level information, to further enhance transparency and regulatory monitoring of the private credit market.
