SEC and CFTC Grant Additional Extension for Compliance Date of Rule for Private Investment Advisers

The SEC and Commodity Futures Trading Corporation (CFTC) have announced that they have granted an additional extension of the compliance date for their February 2024 joint final rule for private fund advisers. Specifically, the compliance date was originally extended from March 12, 2025, to June 12, 2025, and is now being extended to October 1, 2025.

The final rule amends Form PF — that is, “the confidential reporting form for certain SEC-registered investment advisers to private funds, including those that also are registered with the CFTC as a commodity pool operator . . . or commodity trading adviser” — and is intended to “enhance the Financial Stability Oversight Council’s . . . ability to monitor systemic risk as well as bolster the SEC’s regulatory oversight of private fund advisers and investor protection efforts.”

For more information, see the press release — as well as the statements by SEC Chairman Paul Atkins and Commissioners Hester Peirce, Mark Uyeda, and Caroline Crenshaw — on the SEC’s Web site.