Three-month delay enhances oversight by preventing the Commissions from receiving inconsistent data on private funds
Washington, D.C. — Bryan Corbett, MFA President and CEO, released the following statement on the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) delaying the compliance deadline for the New Form PF until June 12, 2025. MFA requested the extension from the incoming leaders of the Commissions earlier this year. MFA also requested relief from the Commissions in a letter in December 2024.
“MFA supports the SEC and CFTC delaying the compliance deadline for the New Form PF by three months. Pushing back the implementation date will ensure the Commissions have time to finalize the technical specifications for the Form and do not receive inconsistent data on private funds. This will allow the SEC and CFTC to better monitor for financial stability risks and give market participants adequate time to establish reporting systems. MFA and our members appreciate the new leadership at the SEC and CFTC moving away from the needlessly antagonistic approach to the industry adopted by the previous administration. Constructively engaging with the industry during the rulemaking process will enhance oversight of financial risks by producing rules that work better in practice and are more effective at achieving their intended aims.” — Bryan Corbett, MFA President and CEO
See the letter to the incoming leaders of the Commissions requesting the extension here.
Also, read the December 2024 letter here.
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About the global alternative asset management industry
The global alternative asset management industry — including hedge funds, private credit funds, and hybrid funds — serves thousands of public and private pension funds, charitable endowments, foundations, and other global institutional investors. The industry provides portfolio diversification and risk-adjusted returns to help meet their funding obligations and return targets throughout the economic cycle.
About MFA
Managed Funds Association (MFA), based in Washington, D.C., New York City, Brussels, and London, represents the global alternative asset management industry. MFA’s mission is to advance the ability of alternative asset managers to raise capital, invest it, and generate returns for their beneficiaries. MFA advocates on behalf of its membership and convenes stakeholders to address global regulatory, operational, and business issues. MFA has more than 180 fund manager members, including traditional hedge funds, private credit funds, and hybrid funds, that employ a diverse set of investment strategies. Member firms help pension plans, university endowments, charitable foundations, and other institutional investors diversify their investments, manage risk, and generate attractive returns throughout the economic cycle.